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| Author : | Andrew Clark, EA |
| Course Length : | Pages: 42 ||| Word Count: 13,967 ||| Review Questions: 6 ||| Final Exam Questions: 10 |
| CPE Credits : | 2.0 |
| IRS Credits : | 0 |
| Price : | $17.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Auditing - Auditing for Course Id 2372 |
| Description : | In every audit, the auditor is required to specifically assess the risk of material misstatement of the financial statements due to fraud. Fraud auditing is a course that examines the types of fraud considered by auditors when auditing financial statements: fraudulent financial reporting and misappropriations of assets. This course describes the way auditors gather information to assess fraud risk in every audit and develop appropriate responses to identified fraud risks, after considering the effectiveness of management's antifraud programs and controls. This course focuses on the typical fraud techniques and highlights areas that are subject to greater risk of fraud. Once the auditor suspects fraud, it is their responsibility to gather additional evidence, often through inquiry. This course also describes the auditor’s responsible for making certain communications about suspected or detected fraud to senior management and the audit committee. |
| Usage Rank : | 90000 |
| Release : | 2024 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Financial Statement Manipulation
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 23-Sep-2024 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - 2372 |
| Keywords : | Auditing, Auditing, Fraud, Investigating, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives At the end of this course, students will be able to:
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| Course Contents : | Chapter 1 - Auditing - Fraud Investigating Course Learning Objectives Introduction Fraud Definition Types of Financial Fraud Fraudulent Financial Reporting Misappropriation of Assets Asset Misappropriation Schemes Conditions for Fraud Fraudulent Financial Reporting Risk Factors Incentives/Pressures Opportunities Duration of Fraud Schemes Attitudes/Rationalization Misappropriation of Assets Risk Factors Incentives/Pressures Opportunities Attitudes/Rationalization Assessing the Risk of Fraud Professional Skepticism Questioning Mind Evaluation of Audit Evidence Information to Assess Fraud Risks Communication Among Audit Team Inquiries of Management Risk Factors Analytical Procedures Other Information Fraud Assessment Documentation Type of Organization Susceptible to Financial Fraud Government Reported Fraud Size of Organization Industry of Organization Oversight to Reduce Fraud Risks Honesty and Ethics Setting the Tone at the Top Creating a Positive Workplace Environment Hiring and Promoting Appropriate Employees Training Confirmation Discipline Evaluating the Risks of Fraud Mitigating Fraud Risks Fraud Prevention Programs Velocity of Fraud Audit Committee Oversight Responding to the Risk of Fraud Change the Audit to Address Fraud Risks Implementing Audit Procedures to Address Fraud Risks Procedures to Address Management Override of Controls Examine Journal Entries and Other Adjustments for Evidence of Possible Misstatements Due to Fraud Review Accounting Estimates for Biases Evaluate the Business Rationale for Significant Unusual Transactions Update Risk Assessment Process Fraud Risk Areas Revenue and Accounts Receivable Fraudulent Financial Reporting Risk for Revenue Fictitious Revenues Premature Revenue Recognition Manipulation of Adjustments to Revenues Signs of Revenue Fraud Analytical Procedures Documentary Discrepancies Misappropriation of Receipts Involving Revenue Failure to Record a Sale Theft of Cash Receipts Misappropriation of Revenues and Cash Receipts Inventory Fraud Risks Inventory Risk of Fraudulent Financial Reporting Warning Signs of Inventory Fraud Accounts Payable Fraud Risks Fraudulent Financial Reporting Risk for Accounts Payable Misappropriations in the Acquisition and Payment Cycle Other Areas of Fraud Risk Fixed Assets Payroll Expenses When Fraud is Suspected Detection Initial Detection of Fraud Tip Sources Reporting Mechanisms Parties to Whom Whistleblowers Report Responding Misstatements Resulting from Fraud Use of Inquiry Types of Inquiry Evaluating Inquiry Responses Listening Techniques Observing Behavioral Cues Other Responsibilities When Fraud is Suspected Audit Software Analysis Expanded Substantive Testing Other Audit Implications Fraud Prevention Checklist Review Questions Glossary |
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Auditing - Fraud Investigating (2 Hrs)