How to Audit for Fraud
This course shows the auditor how to detect fraud. It does so by discussing fraud risk indicators and other clues indicating the presence of fraud, and itemizes the many extended audit procedures that can be used to detect traces of fraud. The course also notes who is responsible for fraud prevention and detection, and covers the different ways in which financial statements can be fraudulently misstated.
Format
PDF Course
Level
Overview
Duration
3 Hours
Course Information
Author: Steven Bragg
Course Number: AU1012
Table of Contents
Chapter 1. Fraud and the Auditor's Role
Chapter 2. Fraudulent Financial Reporting
Chapter 3. Extended Audit Procedures
Learning Objectives
- Recognize the components of the fraud triangle.
- Recognize who is responsible for fraud prevention and detection.
- Understand the reasons for professional skepticism in the conduct of an audit for fraud.
- Describe how to communicate to the client a discovery of fraud.
- Recognize the situations that create pressure for a client to falsify its financial statements.
- Specify the different types of scams that can be used to inflate the reported level of sales.
- Describe how to alter the outcome of the receivables turnover measurement.
- Cite the circumstances under which a client would want to recognize a large loss reserve.
- Recognize the methods that can be used to shift expenses into a later period.
- Cite the ways in which liabilities can be artificially lowered.
- Specify the primary goal of mis-reporting cash flows in the statement of cash flows.
- Describe the most appropriate audit team staffing when fraud is suspected.
- Recognize the characteristics of a fraudulent journal entry.
- Describe the techniques that can be used to alter a document to cover up a fraud.
- Specify the methods available for tracking down the theft of cash.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: November 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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