Auditing Real-World Frauds Found in Small Entities: A Practical Case Application Approach

Both auditors and corporate accounting and finance professionals will find this course relevant and timely. The course includes an overview of the auditor’s responsibilities related to financial statement fraud under SAS No. 99, Consideration of Fraud In a Financial Statement Audit, and clearly links these to the auditor’s risk assessment process under the Risk Assessment Standards.  The course includes information relevant to management’s responsibility for fraud and internal controls under the COSO framework, PCAOB standards, and other “best practices.”  Cases included in this course address personnel fraud, revenue recognition schemes, various financial statement manipulations, theft of capital assets, purchasing fraud, and other common areas of interest.

• Grasp how real world frauds may affect their audit clients and engagements
• Link SAS No. 99, COSO, the Risk Assessment Standards and other best practices in understanding the auditor’s responsibilities for detecting fraud during the performance of a financial statement audit
• Recognize and address common frauds committed within an organization

Prerequisite: Basic understanding of accounting and auditing principles

Advanced Preparation:  None