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Auditing for Internal Fraud

Author/Moderator: Michael Connelley, CFE, CPA
Publisher: AICPA
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Today’s very public focus on fraudulent conduct stresses the CPA’s professional responsibility in detecting internal fraud. Are you familiar with your obligations to detect fraud? Do you understand your clients’ and employers’ perception of the CPA’s fraud discovery duties? Now, more than ever, it is imperative that CPAs stay current on the requirements of AU-C 240, the most common fraud schemes and some best practices to acquire the tools you need to uncover fraud. Through case studies and discussion, this course covers all of the above and teaches you how to focus on ways of improving a company’s internal controls. Don’t be left behind on the fraud discovery curve!

Topics Discussed:

  • The evolution of fraudulent activity and the response of the accounting profession
  • Requirements of AU-C 240
  • The role of the human thought process in deceptive activity
  • Common forms of fraud
  • Examination process
  • Analytical techniques
  • Fraud detection programs
  • Evaluate gaps in internal control
  • Role of the interview in the investigative process
  • Response to the discovery of fraud
  • Fraud and deceptive activity prevention

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

  • Describe the history of the accounting profession’s response to fraud.
  • Explain the role that the human thought process plays in deceptive activity.
  • Recognize common forms of fraudulent activity.
  • Define major parts of the examination process and analytical techniques.
  • Illustrate several fraud prevention principles.
  • Demonstrate effective responses when fraud is discovered.
  • Properly implement conversation in the investigative/audit interview process.

Prerequisite: Experience in accounting and reporting

Advanced Preparation: None

NASBA Field of Study: Accounting and Auditing
Level: Intermediate
Recommended CPE Credit: Text, 9 (Accounting 4.5, Auditing 4.5); On-Demand, 6
Auditing for Internal Fraud
Text , 2014
Product# 743292
Availability: In Stock
Regular:$193.75
AICPA Member:$155.00
Your Price:$193.75
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