Assessing the Risk of Fraud In a Financial Statement Audit Webinar

Nov 18
9:00 - 5:00 p.m.

Online

8-A&A
CPE Credits

The Association of Certified Fraud Examiners says that there is fraud lurking in all businesses including not for profit organizations. It often goes undetected for years and when uncovered, management and the board may question why the auditor did not identify it. The auditor’s responsibility in a financial statement audit is to assess risk and perform sufficient procedures to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error. However, failure to perform an adequate fraud risk assessment and report deficiencies in internal control, such as lack of segregation of duties can leave a firm vulnerable. This course will discuss the audit procedures that should be performed in accordance AU-240 as recently amended, best practices in performing fraud risk assessment procedures, when and how to report control deficiencies noted in an audit and the most frequent types of fraud found in small to mid-size entities along with internal controls that could be implemented to help prevent and detect them. We will take a look at various cyber fraud schemes and how they might be prevented/detected, at the use of analytics as fraud risk procedures, and at assessing the risk of fraud in a Single Audit. This course features case studies.
Highlights

Fraud landscape in the United States
Fraud risk procedures as updated by recently issued standards
Most likely fraud types found in small to midsize entities
Internal controls to prevent and detect fraud
What to do when fraud or suspected fraud is identified
Case studies based on recent frauds
Cyber fraud schemes and how to prevent/detect them
Analytics that can be used as fraud risk procedures
Assessing the risk of grant fraud in a Single Audit

Registration

PICPA Member: $259
Nonmember: $359

More Information

Course No. ARF8-2020-01-WEBNR-323-01 Level: Basic

Prerequisites: None

Notes
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.