How to Audit for Fraud is an essential course for auditors seeking to enhance their expertise in fraud detection and prevention. This fraud CPE course offers a thorough understanding of the auditor's role in identifying fraud, covering the components of the fraud triangle and the responsibility for fraud prevention. Participants of this fraud auditing CPE will learn about various scams used to inflate sales, methods for manipulating financial statements, and tactics for covering up fraudulent activities. Beyond theory, the course provides practical techniques for detecting fraudulent journal entries, altering documents, and tracking cash theft. It also equips auditors with the skills to navigate complex situations like recognizing the pressure on clients to falsify financial statements and how to effectively communicate fraud findings. This auditing CPE course is not just about learning the principles of fraud detection; it's about applying them in real-world scenarios, enhancing your capabilities as an auditor in identifying and addressing fraud.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
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.
Chapter 2
Note 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.
Note the primary goal of mis-reporting cash flows in the statement of cash flows.
Chapter 3
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.
Note the methods available for tracking down the theft of cash.
Major Topics
Fraud and the Auditor's Role
Fraudulent Financial Reporting
Extended Audit Procedures
