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20WA-4656: SAS 122, AU 240, Consideration of Fraud In A Financial Statement Audit (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Wednesday, January 27, 2021
10:00am - 12:00pm Central Time
2 CPE (2 technical)

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.

Major subjects

  • Auditing
  • Fraud

Learning objective(s)

  • Recognize the external auditor's responsibility to detect material fraud
  • Describe the concept of materiality
  • Designing effective audit procedures to detect fraud based on risks
  • Evaluating internal controls on every audit in order to determine where the risks of material misstatements may be
  • Documentation, documentation, documentation
  • Planning the audit; when it begins and ends
  • Reaction to the discovery of fraud

Who should take this program?

External and Internal Auditors

Fees

Our records indicate you are a nonmember. If you register, you will be charged $79.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $79.00
checkmark Standard Nonmember Fee $79.00

More program information

Instructor Dennis Dycus, CPA, CFE, CGFM
Location Online
Area
of study
Accounting & audit
Field(s)
of study
Auditing - Technical (2.0)
Level Intermediate
Format Group Internet Based
Sponsor Business Professionals' Network, Inc.
NASBA ID#: 107810
Prerequisites Prereq. None
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.