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.
Individual webcastCPE Credit:
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by ACPEN.