AU-C 240, Consideration of Fraud in a Financial Statement Audit, (formerly SAS 99) provides auditors with guidance on the consideration of fraud when a financial statement audit is conducted and is effective for audits of financial statements. This course helps you understand the auditor’s responsibilities for detecting fraud and cover audit procedures for responding to the fraud risk analysis.

Learning Objectives
  • Discover and define fraud.
  • Explore and describe audit procedures required to respond to fraud risk.
  • Identify and understand the auditor’s responsibilities for detecting fraud and cover audit procedures for responding to the fraud risk analysis.
Last updated/reviewed: August 9, 2023
23 Reviews (91 ratings)

Reviews

3
Anonymous Author
The course was adequate but suggest you relook at the questions. The use of “not” in the questions is very confusing even for the most experienced person. Also your question in the final exam on incentives is poorly worded

4
Member's Profile
The training was relevant and presented updated information that can assist auditors. It was a great refresher course. The information was presented in a clear and concise manner.

5
Anonymous Author
The assignments and assessments in the course were challenging and well-designed. They provided ample opportunities for me to test my understanding and apply the knowledge gained.

5
Member's Profile
This course contained an incredible amount of material for the time allotted. It was a great review of fraud risk id, assessment and response. Melisa is a master of her craft.

4
Anonymous Author
Appreciated the video and audio quality of this course as well as the real life stories included within. Overall, felt as though the learning objectives were met.

4
Member's Profile
Questions were a bit tricky, I failed the first time and retook the exam to clear in 2nd attempt. The concepts of fraud risk is very well explained.

4
Anonymous Author
Great course that explains fraud risks, fraud risk assessments, revenue recognition schemes, and actions to be taken regarding fraud risks.

5
Member's Profile
Lots of information. Very well organized and presented. Real life examples help dramatically to prevent the course from being boring.

4
Member's Profile
Good course well presented. Normally I prefer text based courses but the presentation was executed well, and quite informative.

5
Anonymous Author
My first course from Melisa I had pleasure taking. Thank you, it was very interesting. Will continue taking more from you.

5
Anonymous Author
I thought the instructor did a great job of explaining fraud in audits and how auditors should address this risk.

5
Anonymous Author
Good course on the consideration of fraud that helped explain the fraud triangle and what an auditor's role is

5
Anonymous Author
what a great course! this will help me in preparing the risk assessment during audit.

5
Anonymous Author
Good fraud course. I enjoyed the information and its a good refresher for everyone.

5
Anonymous Author
Great course Great course Great course Great course Great course Great course

5
Anonymous Author
I'm not an auditor but this was very easy to follow, helpful and informative.

5
Anonymous Author
Presentation was well done and had a lot of great information. Thank you!

5
Member's Profile
This was a tough course, but I learned a lot! Keep up the great work!

5
Anonymous Author
Good overview of how auditors should approach fraud risk assessment.

4
Anonymous Author
Very good content. The exam is also well designed. I recommend.

5
Member's Profile
We enjoyed the instructor. She was very thorough and engaging.

5
Anonymous Author
Great comprehensive course on fraud considerations.

5
Anonymous Author
The course discussed all the objectives in the CV.

Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.
Who Should Attend: Accountants in public practice.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Consideration of Fraud2:15
  What is Fraud?15:12
  How You Stay Ahead of It8:28
  Auditors Objectives18:54
  What are You Looking For?2:57
  Misappropriation of Assets12:11
  Risk Assessment - Step 2: Respond to Risk Identified14:09
  Risk Assessment - Step 2 Cont'd17:28
  Step 3: Evaluate the Evidence7:59
  Step 4: Respond to Fraud5:48
CONTINUOUS PLAY
  Consideration of Fraud1:45:20
SUPPORTING MATERIAL
  Slides: Consideration of FraudPDF
  Consideration of Fraud Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam