Consideration of Fraud

Even though “fraud” is the forbidden “F word” in auditing, this course should not be forbidden! In this CPE eligible (1.0 hour) eLearning course, we will explore an auditor’s responsibilities for considering fraud in an audit, including the process to identify a fraud risk, how to respond to an identified fraud risk, and how to appropriately communicate any (suspected) fraud. This consideration of fraud CPE course is a must in any auditor's toolkit if you perform audits under either U.S. GAAS or PCAOB auditing standards.

This course was developed in accordance with both PCAOB Auditing Standards and AICPA U.S. Generally Accepted Auditing Standards (U.S. GAAS) utilizing the following guidance:

• PCAOB Auditing Standard (AS) 2401: Consideration of Fraud in a Financial Statement Audit

• U.S. GAAS AU-C Section 240: Consideration of Fraud in a Financial Statement Audit

The guidance required by both PCAOB and U.S. GAAS is primarily the same as it relates to the various topics discussed in this course. If there are any significant differences between the two sets of standards, the course differentiates between the two.

Topics covered in this consideration of fraud CPE course include:

• Characteristics of fraud

• Fraud risk assessment procedures

• Responding to assessed fraud risks

• Fraud communications

• Evaluation and documentation

This consideration of fraud CPE course is essential for any auditor. It is easy to understand and full of practical insights and examples. And with GAAP Dynamics, you know it is also fun and engaging!

 By the end of this course, you should be able to: 

• Recall an auditor’s responsibilities for the consideration of fraud in an audit of financial statements