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Course Details

An Auditors Responsibilities for Fraud in the Government Environment - Yellow Book Series (Course Id 1101)

Updated / QAS / Registry   Add to Cart 
Author : Leita Hart-Fanta, CPA
Status : Production
CPE Credits : 11.5
IRS Credits : 0
Price : $145.00
Passing Score : 70%
Primary Subject-Field Of Study:

Auditing (Governmental) - Accounting and Auditing for Course Id 1101

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 : 2017
Version : 1.0
Prerequisites : One or more years of government audit experience.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method :
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 08-Jul-2017
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 - 1101

Keywords : Auditing (Governmental), Auditors, Responsibilities, Fraud, Government, Environment, 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
  • Define the meaning of "design audits to detect" fraud relevant to audit objectives for financial audits and performance audits
  • Describe 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, mandatory fraud interview
  • Categorize the three main types of fraud using the fraud tree
  • 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 meaning of "design audits to detect" fraud relevant to audit objectives for financial audits and performance audits
  • Distinguish among your responsibilities for pursuing and for reporting the four reportable conditions

    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 skimming schemes
  • 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

  • Classify 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

  • Choose risks about an audit subject using the fraud tree and the audit risk model

    Chapter 17
    Evidence

  • Categorize 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 :

    Section 1: Introduction to Fraud

    Chapter 1: Government is Different!

    1-1-1 Fraud Defined

    1-1-2 Victims of Fraud in Government

    1-1-3 A Higher Purpose

    1-1-4 Little Misbehaviors can be a Big Deal in Government

    1-1-5 Materiality in Government

    1-1-6 Accountability is an Ideal for Which We Strive

    1-1-7 Summary

    Study Questions for Chapter 1

     

    Chapter 2: Which Standard Is Guiding You?

    1-2-1 Whos the Leader?

    1-2-2 Other Guidance

    1-2-2A Significant Distinction Between the AICPA & the Yellow Book

    1-2-2B What About the ACFE?

    1-2-2B-1 The Nature of an Investigation

    1-2-2B-2 Auditors & Investigators Are Two Different Animals

    Study Questions for Chapter 2

     

    Chapter 3: The Spectrum of Bad Behaviors

    1-3-1 Internal Control Weaknesses

    1-3-2 Fraud & Illegal Acts

    1-3-3 Noncompliance

    1-3-4 Abuse

    1-3-5 Unethical Behavior & Stupidity

    1-3-6 Judgment Call

    1-3-7 Categorize These Issues

    Study Questions for Chapter 3

     

    Chapter 4: Tackling the Triggers

    1-4-1 Same Responsibilities to Pursue, Regardless of Audit Type

    1-4-1A What Does Design Your Audit to Detect Mean?

    1-4-1A-1 Our Use & Overuse of the Trifecta

    1-4-1A-2 Our Profession Makes the Simple Sound Complex

    1-4-1B Applying the Trifecta to Fraud

    1-4-1B-1 Follow the Yellow Book Road

    1-4-1B-2 The AU-C Section 240 Trifecta

    1-4-2 Reporting Responsibilities

    1-4-3 Practical Application

    1-4-4 Step-by-Step Procedures Following AU‑C Section 240

    1-4-5 Summary

    Study Questions for Chapter 4

    Section 2: Step 1 of the Trifecta

    Chapter 5: Ask Rude Questions

    2-5-1What is Required?

    2-5-2 If You Ask, They Will Tell

    2-5-3 Be Prepared

    2-5-4 Preparing Your Client

    2-5-5 Interview Questions

    2-5-5A For Management (Head of the Entity, CFO, etc.)

    2-5-5B For the Audit Committee

    2-5-5C For the Internal Audit Director

    2-5-5D For All Others

    2-5-6 Closing the Interview

    Study Questions for Chapter 5

     

    Chapter 6: Stay Skeptical

    2-6-1 Two Levels of Skepticism

    2-6-2 Practical Application of Professional Skepticism and Logic

    2-6-2A Evaluation of Logic

    2-6-2B Evaluation of Facts

    Study Questions for Chapter 6

    Section 3: Step 2 of the Trifecta

    Chapter 7: Brainstorming Fraud Risk & the Fraud Triangle

    3-7-1 Practical Application of the Trifecta

    3-7-2 The Fraud Triangle

    3-7-2A Uncle Jimmy

    3-7-2B Think Like a Thief

    3-7-2B-1 Incentive/Pressure

    3-7-2B-2 Rationalization/Attitude

    3-7-2B-3 Opportunity

    3-7-2C Traits of a Fraudster

    3-7-2C Conditions That Could Indicate Fraud

    Study Questions for Chapter 7

     

    Chapter 8: Introduction to The Fraud Tree

    3-8-1 The Fraud Tree

    Study Questions for Chapter 8

     

    Chapter 9: Corruption

    3-9-1 Conflicts of Interest

    3-9-1A Purchases Schemes

    3-9-1B Sales Schemes

    3-9-1C Other Schemes

    3-9-2 Bribery

    3-9-2A Invoice Kickbacks

    3-9-2B Bid Rigging

    3-9-3 Illegal Gratuities

    3-9-4 Extortion

    Study Questions for Chapter 9

     

    Chapter 10: Misappropriation of Cash: Larceny & Skimming

    3-10-1 Larceny

    3-10-1A Of Cash on Hand

    3-10-1B From the Deposit

    3-10-1C Other

    3-10-2 Skimming

    3-10-2A Skimming from Sales

    3-10-2A-1 Unrecorded Sales

    3-10-2A-2 Understated Sales

    3-10-2B Skimming from Receivables

    3-10-2B-1 Write-off Schemes

    3-10-2B-2 Lapping Schemes

    3-10-2C Refunds

    Study Questions for Chapter 10

     

    Chapter 11: Misappropriation of Cash: Fraudulent Disbursements

    3-11-1 Billing Schemes

    3-11-1A Shell Companies

    3-11-1B Non-Accomplice Vendors

    3-11-1C Personal Purchases

    3-11-2 Payroll Schemes

    3-11-2A Ghost Employees

    3-11-2B Commission Schemes

    3-11-2B-1 The Pyramid

    3-11-2C Workers Compensation

    3-11-2D Falsified Wages

    3-11-3 Expense Reimbursement Schemes

    3-11-3A Mischaracterized Expenses

    3-11-3B Overstated Expenses

    3-11-3C Fictitious Expenses

    3-11-3D Multiple Reimbursements for Expenses

    3-11-4 Check Tampering Schemes

    3-11-4A Forged Maker

    3-11-4B Forged Endorsement

    3-11-4C Altered Payee

    3-11-4D Concealed Checks

    3-11-4E Authorized Maker

    3-11-5 Register Disbursements

    3-11-5A False Voids

    3-11-5B False Refunds

    Study Questions for Chapter 11

     

    Chapter 12: Asset Misappropriation: Inventory & All Other Assets

    3-12-1 Misuse

    3-12-2 Larceny

    3-12-2A Asset Requisitions & Transfers

    3-12-2B False Sales & Shipping

    3-12-2C Purchasing & Receiving

    3-12-2D Unconcealed Larceny

    Study Questions for Chapter 12

     

    Chapter 13: Fraudulent Financial Statements

    3-13-1 Asset/Revenue Overstatements

    3-13-1A Timing Differences

    3-13-1B Fictitious Revenues

    3-13-1C Concealed Liabilities

    3-13-1D Improper Disclosures

    3-13-1E Improper Asset Valuations

    3-13-2 Asset/Revenue Understatements

    Study Questions for Chapter 13

     

    Chapter 14: Fraudulent Nonfinancial Statements

    3-14-1 Employment Credentials

    3-14-2 Internal Documents

    3-14-3 External Documents

    Study Questions for Chapter 14

     

    Chapter 15: The Internet Fraud Tree

    3-15-1 Hacking, Cyberterrorism, and Sabotage

    3-15-1A Viruses, Malware, Keylogging, and Other Malicious Products

    3-15-1A-1 Viruses

    3-15-1A-2 Malware

    3-15-1A-3 Keylogging

    3-15-1B Web Site Hijacking

    3-15-1C Online Corporate Espionage

    3-15-1D Online Extortion

    3-15-2 Investment and Securities Fraud

    3-15-2A Ponzi or Pyramid Schemes

    3-15-2B Misrepresentation of Offering

    3-15-3 Identity Theft

    3-15-3A Online Theft of Personal Information

    3-15-3B Online Theft of Financial Information

    3-15-3C Phishing and Pharming

    3-15-4 Online Payment Fraud

    3-15-4A Fraudulent Check Scams

    3-15-5 Confidence and Consumer Fraud

    3-15-5A Vacation or Timeshare Solicitations

    3-15-5B Work-at-Home or Business Opportunities

    3-15-6 Internet Fraud: Other

    3-15-6A Intellectual Property Crime

    3-15-6B Money Laundering

    Study Questions for Chapter 15

     

    Chapter 16: Decide What Is Worthy of Your Attention

    3-16-1 Expanding our List of Fraud Risks

    3-16-2 The Risk Model

    Study Questions for Chapter 16

    Section 4: Step 3 of the Trifecta

    Chapter 17: Evidence

    4-17-1 Collecting Evidence

    4-17-1A Physical Evidence

    4-17-1B Documentary Evidence

    4-17-1C Testimonial Evidence

    4-17-2 Triangulating Evidence: It Depends on Whom You Talk to

    4-17-3 FAM Tips

    4-17-4 What to Do with the Evidence

    4-17-5 What Do You Do If You Find Fraud?

    4-17-6 One Last Look at What Auditors Are Responsible For

    Study Questions for Chapter 17

     

    Chapter 18: Preventing Fraud

    4-18-1 Counteracting Fraud: Lead Me Not into Temptation

    4-18-1A Ethics Policy

    4-18-1B Communication of and Training on Policies

    4-18-1C Hotline

    4-18-1D Protection of Whistle-Blowers

    4-18-1E Employee Screening

    4-18-1F Risk Assessment and Controls

    4-18-2 Implement Controls

    4-18-2A Authorize

    4-18-2B Reconcile

    4-18-2C Segregate Duties

    4-18-2D Safeguard

    4-18-2E Support Documentation

    4-18-3 Last Words

    4-18-4 GAOs Fraud Risk Management Framework

    Study Questions for Chapter 18

    References

    Glossary

    Auditing (Governmental) Course 1101 Home: https://www.cpethink.com/yellow-book-auditing
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