Webcast: Fraud: Essential Audit Tools and Techniques (XCFRAUD417)
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When an audit is performed in accordance with generally accepted auditing standards, a high level of assurance is provided that the financial statements are free of material misstatement caused by fraud or error. Fraud is pervasive, however, and it is critical that auditors familiarize themselves with current procedural, performance and documentation standards related to fraud-and be prepared to respond appropriately when fraud is uncovered. Receive an overview of the general concepts of risk as

8/28/2017
When: 08/28/2017
10:30 AM until 2:00 PM
Where: Webcast
CALCPA
4172872C
United States
Presenter: Thomas E. Noce, CPA, CFE


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Acronym XCFRAUD417
CPE 4 hours
Vendor CalCPA
Category
Accounting & Auditing
Level Beginning
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for Individuals responsible for planning or conducting audit engagements, and practitioners and those in industry desiring to understand current fraud related audit requirements.
Registration
Member $120
CPA Non-Member $188

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

When an audit is performed in accordance with generally accepted auditing standards, a high level of assurance is provided that the financial statements are free of material misstatement caused by fraud or error. Fraud is pervasive, however, and it is critical that auditors familiarize themselves with current procedural, performance and documentation standards related to fraud—and be prepared to respond appropriately when fraud is uncovered. Receive an overview of the general concepts of risk assessment required by professional standards. In addition, get an in-depth review of the specific, fraud-related requirements, including changes resulting from the AICPA Audit Standards Board's Clarity Standards.

Materials are provided as an ebook.

Objectives

  • Determine and implement concepts embodied in the AICPA audit risk assessment model as it pertains to fraud.
  • Identify how the Clarity Standards have confirmed integration of fraud into the risk assessment requirements.
  • Recognize the concept of the fraud triangle.
  • Identify differences between the auditor's required response for material versus immaterial fraud risks.
  • Identify risks of material misstatement due to fraud and select appropriate or required further audit procedures.

Major Topics

  • Audit risk assessment model.
  • Assessing and responding to the risk of material misstatement resulting from fraud.
  • Fraud is found: now what?
  • Internal controls design, specifically as it relates to fraud prevention and detection.
  • Documentation methods related to fraud risk assessments and corresponding responses.