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Identifying Fraudulent Financial Transactions

Author/Moderator: Chad Albrecht, CPA
Publisher: AICPA
Availability: Online Access
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Financial statement fraud continues to plague corporate America and remains at the center of the CPA’s forensic investigation. This course defines the nature of financial statement fraud, the auditor’s responsibilities for fraud and a framework for preventing and detecting fraud. You will analyze a variety of schemes and learn how to spot the red flags of fraud in financial information.

Topics Discussed:

  • Introduction to financial statement fraud
  • Auditor’s responsibility to detect fraud
  • Identifying fraud exposure
  • Revenue-related financial statement fraud
  • Inventory and cost of goods sold fraud
  • Understatement of liabilities fraud exposures and symptoms
  • Overstatement of assets fraud exposures and symptoms
  • Inadequate disclosure fraud
  • Fraud prevention

Learning Objectives:
When you complete this course you will be able to:

  • Identify the auditor’s responsibilities for fraud detection.
  • Describe a solid framework for detecting financial statement fraud, including the identification of revenue-related exposures and symptoms, inventory and cost of goods sold exposures and symptoms, understatement of liabilities exposures and symptoms, and overstatement of assets.
  • Organize the follow-up on symptoms of revenue-related schemes, inventory fraud, understatement of liabilities fraud, and overstatement of assets fraud.
  • Recognize instances of inadequate disclosure fraud.
  • Employ proven methods of financial statement fraud prevention.

Who Will Benefit?
Accountants in industry, internal auditors and CPAs in public practice who are responsible for the quality and integrity of financial information

Prerequisite: Experience in accounting and auditing

Advanced Preparation: None

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NASBA Field of Study: Accounting and Auditing
Level: Intermediate
Recommended CPE Credit: 10.5 – (Auditing – 8.5; Accounting – 2)
Identifying Fraudulent Financial Transactions
CPE On-Demand
Product# 163310
Availability: Online Access 1 Year
For registered users only
AICPA Member:$155.00
Your Price:$193.75
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