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Course Details

How to Audit for Fraud (Course Id 1314)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 3.0
IRS Credits : 0
Price : $26.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing - Auditing for Course Id 1314

Description :

The How to Audit for Fraud course discusses the responsibility for fraud prevention and detection, the activities in which an auditor should engage, and the many extended audit procedures that can be used to detect traces of fraud. The course also covers the different ways in which financial statements can be fraudulently misstated, as well as fraud risk indicators and clues indicating the presence of fraud.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : None.
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 : 18-Jan-2018
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 - 1314

Keywords : Auditing, How, Audit, Fraud, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Recognize the components of the fraud triangle.
  • Recognize who is responsible for fraud prevention and detection.
  • Understand the reasons for professional skepticism in the conduct of an audit for fraud.
  • Describe how to communicate to the client a discovery of fraud.
  • Recognize the situations that create pressure for a client to falsify its financial statements.
  • Note the different types of scams that can be used to inflate the reported level of sales.
  • Describe how to alter the outcome of the receivables turnover measurement.
  • Cite the circumstances under which a client would want to recognize a large loss reserve.
  • Recognize the methods that can be used to shift expenses into a later period.
  • Cite the ways in which liabilities can be artificially lowered.
  • Note the primary goal of mis-reporting cash flows in the statement of cash flows.
  • Describe the most appropriate audit team staffing when fraud is suspected.
  • Recognize the characteristics of a fraudulent journal entry.
  • Describe the techniques that can be used to alter a document to cover up a fraud.
  • Note the methods available for tracking down the theft of cash.

Chapter 1
Fraud and The Auditors Role

  • Recognize the components of the fraud triangle.
  • Recognize who is responsible for fraud prevention and detection.
  • Understand the reasons for professional skepticism in the conduct of an audit for fraud.
  • Describe how to communicate to the client a discovery of fraud.
  • Recognize the situations that create pressure for a client to falsify its financial statements.

    Chapter 2
    Fraudulent Financial Reporting

  • Note the different types of scams that can be used to inflate the reported level of sales.
  • Describe how to alter the outcome of the receivables turnover measurement.
  • Cite the circumstances under which a client would want to recognize a large loss reserve.
  • Recognize the methods that can be used to shift expenses into a later period.
  • Cite the ways in which liabilities can be artificially lowered.
  • Note the primary goal of mis-reporting cash flows in the statement of cash flows.

    Chapter 3
    Extended Audit Procedures

  • Describe the most appropriate audit team staffing when fraud is suspected.
  • Recognize the characteristics of a fraudulent journal entry.
  • Describe the techniques that can be used to alter a document to cover up a fraud.
  • Note the methods available for tracking down the theft of cash.
  • Course Contents :

    Chapter 1 - Fraud and The Auditors Role

    Fraud from an Audit Perspective

    Responsibility for Fraud Prevention and Detection

    Auditor Requirements

    Auditor Communications

    Confidentiality of Information

    Withdrawal from the Audit

    Documentation

    Inquiries of Management and Employees

    Incentives and Pressures Triggering Financial Statement Fraud

    Common Fraud Risk Indicators

    Clues Indicating Fraud

    Review Questions

    Chapter 2 - Fraudulent Financial Reporting

    Sales Inflation

    Expenses Falsification

    Marketable Securities Falsification

    Prepaid Expenses Falsification

    Receivables Falsification

    Loss Reserves Falsification

    Inventory Falsification

    Fixed Asset Falsification

    Liability Falsification

    Debt Falsification

    Discontinued Operations Stuffing

    Cash Flow Reclassifications

    Misappropriation Techniques

    Review Questions

    Chapter 3 - Extended Audit Procedures

    Staffing

    Interviews

    Altered Sample Sizes

    Procedural Unpredictability

    Additional Journal Entry Procedures

    Examination of Significant Transactions

    Additional Document-Related Procedures

    Additional Confirmation Procedures

    Review Bank Transfers

    Additional Cash Procedures

    Additional Receivable Procedures

    Additional Inventory Procedures

    Additional Fixed Asset Procedure

    Additional Reserve Procedures

    Additional Purchasing Procedures

    Additional Liability Procedures

    Additional Equity Procedures

    Additional Sales Procedures

    Additional Payroll Procedures

    Cutoff Procedures

    Analytical Procedures

    Data Analysis Techniques

    Benfords Law

    Outlier Analysis

    Trend Analysis

    Discovery Sampling

    Review Questions

    Glossary

    Auditing Course 1314 Home: https://www.cpethink.com/auditing-cpa-courses
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