Upon successful completion of this course, participants will be able to: Identify red flags in financial statements that suggest potential misstatements or fraud Recognize common issues in revenue recognition practices that could indicate improper reporting Distinguish between normal financial reporting practices and warning signs of manipulation Recognize behavioral red flags that may indicate fraudulent or unethical conduct Identify management-related risks in estimates and representations that could affect audit outcomes Determine when changes in management behavior require further investigation Identify weaknessesin internal controlsthat may expose the organization to risk Select the appropriate response when suspicious or incomplete audit evidenceis found Distinguish between valid and questionable audit evidence during the audit process Recognize red flags in complianceaudits that suggest potential violations or regulatory risks Identify cyber security risks and indicators of inadequate protection measures Determine when going concern issues require further assessment or disclosure Identify common methods of manipulating revenue and earnings in financial statements Recognize indicators of inflating earnings with non-recurring items and overstating deferred revenue Distinguish between legitimate and fraudulent journal entries Recognize indicators of backdating transactions and how they can impact financial reporting Identify fraudulentactivities that involve understating expenses and liabilities in financial statements Recognize common schemes for misclassifying financial statement items and manipulating reserves Distinguish between legitimate and fraudulent lease classifications under accounting standards Identify fraudschemes that involve overstating assets and manipulating equity Recognize fraudindicators related to depreciation, amortization, and stock option accounting Differentiate between legitimate and fraudulent related party transactions Identify indicators of misleading disclosures and misreporting of foreign currencytransactions Recognize red flags indicating failure to disclose contingent liabilities Distinguish between legitimate and fraudulent consolidation practices

Red Flags in Financial and Revenue Reporting Financial Statement Irregularities Key Financial Ratios and Benchmarks Unusual Accounting Practices Using Analytics and Trend Analysis Revenue Recognition Red Flags Common Methods of Fraudulent Revenue Recognition Behavioral Cues in Fraud Detection Key Indicators of Stress or Unusual Behavior Using Interviews and Observation to Identify Behavioral Red Flags Building Relationships to Encourage Transparency Management Representations and Estimates Identifying Potential Biases in Management's Assumptions Techniques for Auditors to Challenge Management's Assumptions The Role of Internal Controls in Detecting and Preventing Fraud Common Internal Control Weaknesses Evaluating the Design and Operating Effectiveness of Internal Controls Types of Audit Evidence and Their Relevance to the Audit Process. Audit Techniques to Verify Authenticity of Audit Evidence Maintaining Professional Skepticism Appropriate Audit Documentation Key Financial and Operational Red Flags Audit Techniques to Assess the Adequacy of Going Concern Disclosures Cybersecurity Risks and the Increasing Importance of IT in Audits Identifying Patterns of Non-Compliance Monitoring Changes in Laws and Regulations Role of Auditors in Communicating Compliance Risks to Stakeholders Detecting Fraudulent Journal Entries Misclassifying Financial Statement Items Improper Use of Reserves Misrepresenting Lease Classifications Manipulating Stock Option Accounting Failure to Consolidate Related Entities Failure to Disclose Contingent Liabilities Misreporting Foreign Currency Gains or Losses Best Practices for Ethical Financial Reporting