Webinar

What Does Fraud Look Like?

SAS No. 122, AU 240, Consideration of Fraud In A Financial Statement Audit states that auditors fail to detect fraud for two primary reasons: 1. They don't know what it looks like and, 2. They don't know how to look for it.



This presentation is designed to assist those attending to be able to identify the tell-tell indicators of fraud. What Does Fraud Look Like? I don't know .. but I'll know it when I see it. In order to first to be able to identify fraud, one must understand the entity and the environment that it exists in. After all, it is possible and indicator of fraud in one business would be a normal part of operations in another, and you have to know the difference.



Items that will be discussed include the importance of professional skepticism, what indicators of fraud to look for when examining documents; how to obtain information without asking questions; what to do when something just does not make sense and, understanding why individuals steal.

Objectives

To gain an understanding of the concept and nature of professional skepticism
How the type of entity and the environment if operates in by themselves create risks
Learn how to identify the more common indicators of fraud
Discover the difference between a usual and an unusual transaction
Recognize the two perpetrator behavioral red flags where one is present 70% of the time
Discover the important of the Town At the Top and how it relates to risks

Highlights

Auditing
Fraud

Additional Information

Designed For

External and Internal Auditors; Small Business Owners; Not For Profit Administrators

Vendor

ACPEN

Advanced Preparation

None

Credits

2.00 Auditing

Prerequisite

None

Course Number

192253948

Level of Knowledge

Intermediate

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