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SAS 122, AU 240, Consideration of Fraud In A Financial Statement Audit

 Tue, 06/28/2022
23 / 2-31940
Registration is Open
Member Price
$79.00 Regular Registration
Your Price
$109.00 Regular Registration
Designed For:

External and Internal Auditors

This presentation is an overview of SAS 122, AU 240 which outlines the external auditor’s responsibility to detect material fraud.  Although the external auditor is responsible for the detection of anything that may cause a material misstatement of the financial statement whether cause by error or fraud, as reported in the ACFE’s 2018 Report To The Nations on Occupational Fraud and Abuse, only 4% of all financial statement frauds are discovered by the external auditor.  The standard requires that the auditor document on every financial statement audit the procedures the implemented in order to detect any material fraud.  The purpose of this presentation is to familiarize the participants with an external auditor’s responsibilities under the above provisions. 

Delivery Method: Individual webcast
CPE Credit: Auditing
Program Level: Intermediate

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

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