Fraud Overview for

Accountants and

Auditors

Course Description:

This course addresses issues related to fraud. In particular, accountants and auditors need to be aware of the types of fraud that clients and employees must be committing, especially in light of myriad lawsuits against auditors and accountants. Topics include a review of the results of the fraud report to the nation, types of fraud, the auditors’ role in addressing fraud, and the accountant’s responsibility for fraud in a compilation and review engagement. The course also discusses miscellaneous fraud-related measures, considering an entity’s fraud scorecard, and more.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Identify examples of fraud cash disbursements
• Identify the difference between fraud and an error
• Recognize some of the conditions of the fraud triangle
• Identify examples of financial statement fraud
• Identify additional procedures an auditor is required to perform to deal with the risk of management override of internal controls
• Identify examples of missed audit procedures involving the detection of fraud
• Identify audit procedures an auditor should perform to address certain frauds involving revenue
• Identify the elements of a fraud predator profile
• Identify some of the whistleblower protections for employees of public companies
• Identify the requirements of reporting fraud under SSARS No. 19
• Identify some of the recommendations to minimize a CPA’s exposure to fraud risk