Fraud Overview for Accountants and Auditors (Currently Unavailable)

Author: Steven C. Fustolo

The course addresses various issues related to fraud. In particular, accountants and auditors need to be aware of the types of fraud that clients and employees may be committing, especially in light of myriad lawsuits against auditors and accountants.

Publication Date: March 2014

Topics Covered

• Review of the results of the fraud Report to the Nation
• Types of fraud
• Auditor's role in addressing fraud
• The accountant's responsibility for fraud in a compilation and review engagement
• Miscellaneous fraud-related issues including whistleblowing
• Anti-fraud measures
• Considering an entity's fraud scorecard

Learning Objectives

• Identify examples of fraud cash disbursements
• Identify the difference between fraud and an error
• Recognize some of the conditions of the fraud triangle
• Identify examples of financial statement fraud
• Identify types of misappropriation of assets
• Identify additional procedures an auditor is required to perform to deal with the risk of management override of internal controls
• Identify examples of missed audit procedures involving the detection of fraud
• Identify audit procedures an auditor should perform to address certain frauds involving revenue
• Identify the elements of a fraud predator profile
• Identify some of the whistleblower protections for employees of public companies
• Identify the requirements for reporting fraud under SSARS No. 19
• Identify some of the recommendations to minimize a CPA's exposure to fraud risk

Level
Overview

Instructional Method
Self-Study

NASBA Field of Study
Auditing (4 hours)

Program Prerequisites
None

Advance Preparation
None