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An Auditors Responsibilities for Fraud in the Government Environment - v09 - Yellow Book Series (Course Id 1551)

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Author : Leita Hart-Fanta, CPA
Status : Production
CPE Credits : 11.5
IRS Credits : 0
Price : $145.00
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing (Governmental) - Auditing (Governmental) for Course Id 1551

Description :

The Yellow Book places responsibility on you, as an auditor, to design your audit to detect fraud. But what does fraud look like? What techniques can you use to find it? And how does it rear its ugly head in the government environment?

In this course, we will discuss the taxonomy of fraud as well as how to do your best to uncover it and document your work according to auditing standards. We will also explore recommendations that you can make to your clients to help them avoid fraud in the future.

Usage Rank : 0
Release : 2019
Version : 1.0
Prerequisites : One or more years of government auditing experience.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 24-Jul-2019
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1551

Keywords : Auditing (Governmental), An, Auditors, Responsibilities, Fraud, Government, Environment, v09, Yellow, Book, Series, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Differentiate between auditing for fraud in the government environment and auditing for fraud in the commercial environment
  • Identify the fraud guidance available to you
  • Differentiate between auditors and investigators
  • Identify reportable conditions and bad behaviors based on auditing criteria
  • Define the due diligence procedures regarding fraud
  • Distinguish among your responsibilities for pursuing and for reporting the three reportable conditions
  • Define how to ask pointed questions of management, the audit committee, the internal audit director, and front line staff to unveil fraudulent activities in the workplace under AU-C Section 240
  • Identify techniques for easing into the uncomfortable fraud interview
  • Distinguish among the three parts of the classic fraud triangle
  • Identify common flaws in an organization that provide an opportunity for fraud to occur
  • Categorize the three main types of fraud by using the fraud tree
  • Distinguish between the four major types of corruption and their subcategories
  • Differentiate between schemes to misappropriate cash
  • Identify the major types of fraudulent disbursements
  • Recognize and name expense reimbursement schemes
  • Recognize and name payroll and compensation schemes
  • Identify how government statements can be fraudulently misstated
  • Identify what would motivate a government to misstate their financial statements
  • Identify the three major subcategories of nonfinancial fraudulent statements
  • Recognize elements of the internet fraud tree
  • Identify fraud risks regarding an audit subject using the fraud tree and the audit risk model
  • Recognize evidence as physical, documentary, and testimonial evidence, and preserve it for investigators
  • Select controls in the workplace to prevent fraud

Chapter 1
Government is Different!

  • Differentiate between auditing for fraud in the government environment and auditing for fraud in the commercial environment

    Chapter 2
    Which Standard Is Guiding You?

  • Identify the fraud guidance available to you
  • Differentiate between auditors and investigators

    Chapter 3
    The Spectrum of Bad Behaviors

  • Define bad behaviors based on auditing criteria

    Chapter 4
    Tackling the Triggers

  • Define the due diligence procedures regarding fraud
  • Distinguish among your responsibilities for pursuing and for reporting the three reportable conditions
  • Define the meaning of “design audits to detect” fraud relevant to audit objectives for financial audits and performance audits.

    Chapter 5
    Ask Rude Questions

  • Define how to ask pointed questions of management, the audit committee, the internal audit director, and front line staff to unveil fraudulent activities in the workplace under AU-C Section 240
  • Identify techniques for easing into the uncomfortable fraud interview

    Chapter 6
    Stay Skeptical

  • Define professional skepticism
  • Define errors in reasoning

    Chapter 7
    Brainstorming Fraud Risk & the Fraud Triangle

  • Distinguish among the three parts of the classic fraud triangle
  • Identify common flaws in an organization that provide an opportunity for fraud to occur

    Chapter 8
    Introduction to The Fraud Tree

  • Categorize the three main types of fraud by using the fraud tree

    Chapter 9
    Corruption

  • Distinguish between the four major types of corruption and their subcategories

    Chapter 10
    Misappropriation of Cash: Larceny & Skimming

  • Differentiate between schemes to misappropriate cash

    Chapter 11
    Misappropriation of Cash: Fraudulent Disbursements

  • Identify the major types of fraudulent disbursements
  • Recognize and name expense reimbursement schemes
  • Recognize and name payroll and compensation schemes

    Chapter 12
    Asset Misappropriation: Inventory & All Other Assets

  • Distinguish between the two major types of inventory misappropriation

    Chapter 13
    Fraudulent Financial Statements

  • Identify how government statements can be fraudulently misstated
  • Identify what would motivate a government to misstate their financial statements

    Chapter 14
    Fraudulent Nonfinancial Statements

  • Identify the three major subcategories of nonfinancial fraudulent statements

    Chapter 15
    The Internet Fraud Tree

  • Recognize elements of the internet fraud tree

    Chapter 16
    Decide What Is Worthy of Your Attention

  • Identify fraud risks regarding an audit subject using the fraud tree and the audit risk model

    Chapter 17
    Evidence

  • Recognize evidence as physical, documentary, and testimonial evidence, and preserve it for investigators

    Chapter 18
    Preventing Fraud

  • Select controls in the workplace to prevent fraud
  • Course Contents :

    Chapter 1: Government is Different!

    Fraud Defined

    Victims of Fraud in Government

    A Higher Purpose

    Little Misbehaviors Can Be a Big Deal in Government

    Materiality in Government

    Accountability Is an Ideal for Which We Strive

    Summary

    Study Questions for Chapter 1

    Chapter 2: Which Standard Is Guiding You?

    Who’s the Leader?

    Other Guidance

    Significant Distinction Between the AICPA & the Yellow Book

    What About the ACFE?

    The Nature of an Investigation

    Auditors & Investigators Are Two Different Animals

    Study Questions for Chapter 2

    Chapter 3: The Spectrum of Bad Behaviors

    The Criteria for Each Bad Behavior

    Internal Control Weaknesses

    Fraud & Illegal Acts

    Noncompliance

    Abuse & Waste

    Unethical Behavior & Stupidity

    Judgment Call

    Categorize These Issues

    Study Questions for Chapter 3

    Chapter 4: Tackling the Triggers

    Our Use & Overuse of the Trifecta

    Our Profession Makes the Simple Sound Complex

    The AU-C Section 240 Trifecta

    Step-by-Step Procedures Following AU‑C Section 240

    What About Abuse and Waste?

    Study Questions for Chapter 4

    Chapter 5: Ask Rude Questions

    What is Required?

    If You Ask, They Will Tell

    A Face-to-Face Interview Will Consume at Least an Hour

    Interview Questions

    For Management (Head of the Entity, CFO, etc.)

    For the Audit Committee

    For the Internal Audit Director

    For All Others

    Preparing Your Client

    Closing the Interview

    Study Questions for Chapter 5

    Chapter 6: Stay Skeptical

    Two Levels of Skepticism

    Evaluation of Logic

    Evaluation of Facts

    Study Questions for Chapter 6

    Chapter 7: Brainstorming Fraud Risk & the Fraud Triangle

    Our Case Study

    The Fraud Triangle

    Uncle Jimmy

    Think Like a Thief

    1. Incentive/Pressure

    2. Rationalization/Attitude

    Traits of a Fraudster

    3. Opportunity

    Study Questions for Chapter 7

    Chapter 8: Introduction to The Fraud Tree

    The Fraud Tree

    Study Questions for Chapter 8

    Chapter 9: Corruption

    Conflicts of Interest

    Purchases Schemes

    Sales Schemes

    Other Schemes

    Bribery

    Invoice Kickbacks

    Bid Rigging

    Illegal Gratuities

    Extortion

    Study Questions for Chapter 9

    Chapter 10: Misappropriation of Cash: Larceny & Skimming

    Larceny

    Of Cash on Hand

    From the Deposit

    Skimming

    Skimming from Sales

    Unrecorded Sales

    Understated Sales

    Skimming from Receivables

    Write-off Schemes

    Lapping Schemes

    Refunds

    Study Questions for Chapter 10

    Chapter 11: Misappropriation of Cash: Fraudulent Disbursements

    Billing Schemes

    Shell Companies

    Non-Accomplice Vendors

    Personal Purchases

    Payroll Schemes

    Ghost Employees

    Commission Schemes

    The Pyramid

    Workers Compensation

    Falsified Wages

    Expense Reimbursement Schemes

    Mischaracterized Expenses

    Overstated Expenses

    Fictitious Expenses

    Multiple Reimbursements for Expenses

    Check Tampering Schemes

    Forged Maker

    Forged Endorsement

    Altered Payee

    Concealed Checks

    Authorized Maker

    Register Disbursements

    False Voids

    False Refunds

    Study Questions for Chapter 11

    Chapter 12: Asset Misappropriation: Inventory & All Other Assets

    Misuse

    Larceny

    Asset Requisitions & Transfers

    False Sales & Shipping

    Purchasing & Receiving

    Unconcealed Larceny

    Study Questions for Chapter 12

    Chapter 13: Fraudulent Financial Statements

    Asset/Revenue Overstatements

    Timing Differences

    Fictitious Revenues

    Concealed Liabilities

    Improper Disclosures

    Improper Asset Valuations

    Asset/Revenue Understatements

    Study Questions for Chapter 13

    Chapter 14: Fraudulent Nonfinancial Statements

    Employment Credentials

    Internal Documents

    External Documents

    Study Questions for Chapter 14

    Chapter 15: The Internet Fraud Tree

    Hacking, Cyberterrorism, and Sabotage

    Viruses, Malware, Keylogging, and Other Malicious Products

    Viruses

    Malware

    Keylogging

    Web Site Hijacking

    Online Corporate Espionage

    Online Extortion

    Investment and Securities Fraud

    Ponzi or Pyramid Schemes

    Misrepresentation of Offering

    Identity Theft

    Online Theft of Personal Information

    Online Theft of Financial Information

    Phishing and Pharming

    Online Payment Fraud

    Fraudulent Check Scams

    Confidence and Consumer Fraud

    Vacation or Timeshare Solicitations

    Work-at-Home or Business Opportunities

    Internet Fraud: Other

    Intellectual Property Crime

    Money Laundering

    Study Questions for Chapter 15

    Chapter 16: Decide What Is Worthy of Your Attention

    Expanding Our List of Fraud Risks

    Were We Thorough?

    Back to the Trifecta

    Concentrating on High Risk Items

    Study Questions for Chapter 16

    Chapter 17: Evidence

    Collecting Evidence

    The Dark Side of Physical Evidence

    The Dark Side of Documentary Evidence

    The Dark Side of Testimonial Evidence

    Always Consider Who Gave You the Evidence

    FAM Tips

    What to Do with the Evidence

    Maybe You Don’t Have a Fraud Investigator to Lean On

    One Last Look at What Auditors Are Responsible For

    Study Questions for Chapter 17

    Chapter 18: Preventing Fraud

    Counteracting Fraud: Lead Me Not into Temptation

    Ethics Policy

    Communication of and Training on Policies

    Hotline

    Protection of Whistle-Blowers

    Employee Screening

    Risk Assessment and Controls

    Implement Controls

    Authorize

    Reconcile

    Segregate Duties

    Safeguard

    Support Documentation

    Last Words

    GAO’s Fraud Risk Management Framework

    Study Questions for Chapter 18

    References

    Glossary

    CPE Auditing (Governmental) Course: https://www.cpethink.com/yellow-book-auditing
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