Unfortunately fraud can occur in all types of organizations. Being aware of the risks of fraud helps practitioners address their responsibilities related to fraud when performing assurance engagements.
This course explores conditions which may lead to fraud and how these conditions impact an assurance engagement. The course addresses required procedures related to fraud and how to respond when fraud is identified. That is, the approach to considering further audit procedures and determining the impact on the engagement report.
Through exploration of the standards and the use of illustrative examples, you will better understand the risks related to fraud and how to respond. Guidance and tips on practical application will strengthen your ability to maintain an attitude of professional skepticism and conduct effective and efficient engagements.
By the end of the session participants will be able to:
- Explain the elements of motivation, opportunity and rationalization in the “fraud triangle” and how these conditions may lead to fraud
- Identify the key aspects of the Annual Certified Fraud Examiners Report to the Nations and discuss the implications with their clients
- Explore attributes, mindset and actions to strengthening the ability maintain an attitude of professional skeptisicm in engagements
- Understand required procedures and how to incorporate them in an efficient manner
- Design procedures to respond to identified fraud
- Determine the implications of fraud on the engagement report