Surgent's Fraud Risk Assessment Basics

Available Anytime

Location: Online

2Credits

Accounting and Auditing

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Nonmembers

$119.00 Regular Price

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Product Code: SU24-A2S4-SSWC

Level: Basic

Vendor: Surgent

Field of Study: Auditing

Overview:

The financial statement auditor's overall objectives are to obtain reasonable assurance as to whether the financial statements are materially misstated due to fraud or error and to issue a report that includes an opinion. As noted in the independent auditor's report, the risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. This module will highlight the audit procedures required by professional standards to assess the risk of fraud and perform further procedures in response to fraud risk. (Please Note: This module is part of Surgent's Audit Skills Training: Level 2.)

Objectives:

Explain the various types of fraud relevant to a financial statement audit
Discuss the requirements related to fraud in generally accepted auditing standards
Describe fraud indicators
Perform appropriate responses to identified fraud risk

Major Topics:

• Explain the expectation gap with financial statement users regarding the auditor’s responsibilities for preventing and detecting fraud

• Fraud inquiries and engagement team discussion points

• Identifying and responding to fraud risk on an audit

• Testing journal entries and other tests for management override

• Fraud communications

Designed For:

Accountants who have responsibility for identifying, assessing, and responding to fraud risk on a financial statement audit

Prerequisite:

None

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.