- NY Credits : 4.0
- TX Credits : 4.0
The CPA profession has celebrated more than a century of service to the business and investing community. Throughout that century, the accounting profession, for the most part, has been allowed to operate in a self-regulated environment. A significant part of that self-regulation is that the accounting profession is responsible for establishing the accounting standards by which financial statements are to be prepared and also the auditing and other attest standards that auditors are to follow in providing assurance on those financial statements. This course will focus on misappropriations of cash and assets. It will discuss the basic types of misappropriation schemes as well as review various fraudulent disbursement schemes and theft schemes. It will explain how assets are misused and ways to detect the misuse.
This basic level course is most beneficial to professionals new to this topic who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this topic.
Upon successful completion of this course, the user should be able to:
recognize the key concepts and definition of fraud,
identify differences between civil and criminal life in relations to fraud,
recognize various fraudulent disbursement schemes and theft schemes,
identify how assets other than cash are misappropriated,
recognize ways to detect misappropriation of assets, and
recognizes the auditor's responsibility concerning fraud in a financial statement audit.