In a GAAS audit you must provide reasonable assurance that the financial statements are free of material misstatement, including material misstatements caused by fraud. You are not responsible for detecting all fraud. Rather you are responsible for detecting material misstatements caused by the fraud. With this course, you will be more prepared to detect those material misstatements. You will have a good understanding of the characteristics of fraud, the fraud triangle, and the misappropriation of assets versus fraudulent financial reporting.
Learning Objectives
Recognize your responsibilities for detecting fraud in a GAAS audit
Describe an overall framework for detecting material financial misstatements caused by fraud
Participate effectively in an engagement team fraud brainstorming meeting
Use the fraud triangle to identify possible fraud risks
Link audit tests to identified fraud risks
Key Topics
Definition of fraud and examples
Causes and motivations for fraud
Auditing framework for detecting fraud related material misstatements
Procedures for detecting fraud
Who will it benefit?
New Staff covers key areas to ensure auditors are well prepared to begin their careers. The Audit Staff Essentials Level I courses establish a strong set of core skills necessary for junior staff growth.
$ 125.00
AICPA Member Price: $ 99.00
Course is unavailable for purchase.
NASBA Field of Study
Auditing
Level
Basic
CPE Credits
3.0
Prerequisites
None
Delivery Method
QAS Self-Study
Advance Preparation
None
Last Updated
01/07/2022
JEBASE1_15D
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