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22WA-3914: Was It Fraud or Just Poor Audit Quality? (Webinar)

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

Date Monday, December 19, 2022
Time 11:00am - 12:20pm
Central Time
Location Online
CPE credits CPE 1.5
Field(s)
of study
Accounting (Governmental) - Technical (0.5)
Auditing (Governmental) - Technical (1.0)
Specialty
credits
1.5 Yellow Book recommended
Instructor David Cotton, CPA, CFE, CGFM
Cotton & Company LLP
Fees
Standard Member Fee $59.00
Standard Nonmember Fee $59.00

Description

This session describes a state agency's quality review of a Not-for-Profit organization's A-133 audit. The case study describes the organization audited, its Federally- and state-funded programs, and the CPA firm retained to do the audit. Various anomalies in the financial statements alerted State officials to potential problems, and a detailed quality review followed. Find out how the entity turned hundreds of thousands of dollars in bank overdrafts into hundreds of thousands of dollars of cash on its balance sheet. Explore other "creative" ways to deal with fixed assets, accounts receivable, and related-party transactions. Were the auditors just sloppy, ignorant, negligent? Or were they active participants in producing fraudulent financial statements? You be the judge.

Who should take this program?

Accountants and auditors at all levels

Major subjects

  • Financial statement manipulation
  • Ethics enforcement process
  • Auditor conflicts of interest

Learning objective(s)

  • How easily financial statements can be manipulated
  • How checklist auditing is dangerous
  • Consequences for poor or negligent audit work

Notes:

Course code Code 22WA-3914
Sponsor Business Professionals' Network, Inc.
NASBA ID#: 107810
Level Basic
Format Group Internet Based
Prerequisites Prereq. None
Advance
prep
None

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

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