Audit 201: Fraud Risk - Minimum Audit Requirements
Overview
Fraud Risk - Complying with Minimum Audit Requirements will highlight the audit procedures most effective in identifying, assessing and responding to fraud risk. The financial statement auditor’s overall responsibility is to obtain sufficient appropriate audit evidence to provide reasonable assurance as to whether the financial statements are materially misstated due to fraud or error. The difficulty is that there are inherent limitations related to detecting fraud due to deliberate schemes to conceal the intent to deceive, such as collusion. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics covered in this course include:
- The expectation gap with financial statement users regarding the auditor's responsibilities for preventing and detecting fraud
- Fraud inquiries and engagement team discussion points
- Fraud risk on an audit
- Testing journal entries and other tests for management override
- Required fraud and noncompliance communications by various auditing, including communications required by Government Auditing Standards, PCAOB Audit Standards, and International Standards on Auditing
Prerequisites
None
Designed For
Appropriate for beginning or experienced staff auditors or any experienced professional who needs a reminder about fraud risk audit requirements.
Objectives
Upon completion of this course, you will be able to...
- Recall the various types of fraud relevant to a financial statement audit
- Recognize the symptoms of fraud and how to identify risk of material misstatement due to fraud
- Recall appropriate responses to identified fraud risk
- Identify the requirements related to fraud and noncompliance in various generally accepted auditing standards
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by CPA Crossings.
Leader(s):
Leader Bios
Jennifer Louis, Emergent Solutions Group LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success.
In 2003 she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. She currently resides in Charlotte, NC.
Non-Member Price $119.00
Member Price $89.00