Auditor Responsibility Re: Fraud
This webinar focuses on fraud in the corporate environment. It reiterates some of the authoritative CPA literature related to fraud. It is, however, equally important to non-CPAs (e.g. internal auditors, corporate departmental managers, senior management, board members). It provides a basic understanding of fraud-related definitions and requirements. In particular, it separates the fraud discussion between: Fraudulent financial reporting (“cook-the-books” type frauds)Misappropriation of assets (traditional fraud involving embezzlement, kickbacks, stealing assets, using corporate cash for non-corporate expenses)It also helps participants identify business risks, assess those risks, and develop a response to the fraud risk assessment. It also focuses on and explains typical frauds and provides checklists, questionnaires, and other tools to help audit or review for fraud.This webinar is an excellent overview of the entire fraud situation and in particular the auditor's responsibility for fraud. Fraud is a reality for all entities. Whether perpetrated by insiders or outsiders it could be occurring at a material level. Corporate management charged with the responsibility for good internal controls must consider the possibility of fraud. Auditors (external and internal) must also consider, identify and assess fraud risk threats. In recent years the old misappropriation of assets type frauds has given way to the new frauds – fraudulent financial reporting. The latter represents the “cooking” of the books (for example, manipulate the books to generate higher earnings for bonus purposes).Learning ObjectivesWhat is fraudWhat is a fraud riskWhat is fraudulent financial reporting What is a misappropriation of assetsWhat are examples of fraud risk factorsWhat is the difference between potential fraud and actual fraud How is fraud risk identified and assessed How is fraud risk evaluated What are some typical fraudsWho Should AttendInternal auditors – all levelsExternal auditors – all levelsDepartment and senior management Risk analysts Selected board members
This webinar focuses on fraud in the corporate environment. It reiterates some of the authoritative CPA literature related to fraud. It is, however, equally important to non-CPAs (e.g. internal auditors, corporate departmental managers, senior management, board members). It provides a basic understanding of fraud-related definitions and requirements. In particular, it separates the fraud discussion between:
- Fraudulent financial reporting (“cook-the-books” type frauds)
- Misappropriation of assets (traditional fraud involving embezzlement, kickbacks, stealing assets, using corporate cash for non-corporate expenses)
It also helps participants identify business risks, assess those risks, and develop a response to the fraud risk assessment. It also focuses on and explains typical frauds and provides checklists, questionnaires, and other tools to help audit or review for fraud.
This webinar is an excellent overview of the entire fraud situation and in particular the auditor's responsibility for fraud.
Fraud is a reality for all entities. Whether perpetrated by insiders or outsiders it could be occurring at a material level. Corporate management charged with the responsibility for good internal controls must consider the possibility of fraud. Auditors (external and internal) must also consider, identify and assess fraud risk threats. In recent years the old misappropriation of assets type frauds has given way to the new frauds – fraudulent financial reporting. The latter represents the “cooking” of the books (for example, manipulate the books to generate higher earnings for bonus purposes).
Learning Objectives
- What is fraud
- What is a fraud risk
- What is fraudulent financial reporting
- What is a misappropriation of assets
- What are examples of fraud risk factors
- What is the difference between potential fraud and actual fraud
- How is fraud risk identified and assessed
- How is fraud risk evaluated
- What are some typical frauds
Who Should Attend
- Internal auditors – all levels
- External auditors – all levels
- Department and senior management
- Risk analysts
- Selected board members
