Fraud Auditing is a CPE webinar that examines the types of fraud considered by auditors when auditing financial statements: fraudulent financial reporting and misappropriations of assets. This webinar 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 webinar 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 webinar also describes the auditor’s responsible for making certain communications about suspected or detected fraud to senior management and the audit committee.
We provide a Subject Matter Expert (SME) to answer any questions you may have during this session. SMEs are available from 8am to 7:30pm Central Time. This course should only be taken during SME hours.
At the end of this webinar, students will be able to:
- Identify the three types of fraud.
- Identify the SAS that provides guidance to auditors in assessing the risk of fraud.
- Recognize the three elements identified by the AICPA to prevent, deter, and detect fraud.
- Recognize who is responsible for identifying and measuring fraud risks and taking steps to mitigate identified risks.
- Identify the procedures to address the risk of management overriding internal controls that are otherwise operating effectively.
- Recognize the characteristics of different types of fraud.
CPE Credit: 2 CPE Credits for CPAs
Instructional Method: Group Internet Based
NASBA Field of Study: Auditing
Program Prerequisites: None
Advanced Preparation: None
Revision Date: March 24, 2023