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Overview

4.0 Credits
ONLINE

Discuss the audit procedures that should be performed in accordance with AU-C 240 as recently amended, best practices in performing fraud risk assessment procedures, when and how to report control deficiencies noted in an audit, and the most frequent types of fraud found in small to midsize entities along with internal controls that could be implemented to help prevent and detect them.

Objectives

  • Understand the drivers of fraud risk in a financial statement audit
  • Conduct procedures required by professional literature to assess the risk of fraud
  • Develop discussion points to review with management and those charged with governance
  • Identify the main types of fraud that occur in small to midsize companies and develop internal controls to be responsive to those risks
  • Evaluate fraud case examples and identify how fraud occurred and how it could have been prevented or detected

 

Major Topics

  • Fraud landscape in the United States
  • Fraud risk procedures as updated by recently issued standards
  • Most likely fraud types found in small to midsize entities
  • Internal controls to prevent and detect fraud
  • What to do when fraud or suspected fraud is identified
  • Case studies based on recent frauds

Prerequisite

None

Sessions

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Thursday, November 14, 2024

General Sessions