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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: May 10, 2022

4 Reviews (19 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
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
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.

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  2:15Introduction to Consideration of Fraud
  15:12What is Fraud?
  8:28How You Stay Ahead of It
  18:54Auditors Objectives
  2:57What are You Looking For?
  12:11Misappropriation of Assets
  14:09Risk Assessment - Step 2: Respond to Risk Identified
  17:28Risk Assessment - Step 2 Cont'd
  7:59Step 3: Evaluate the Evidence
  5:48Step 4: Respond to Fraud
CONTINUOUS PLAY
  1:45:20Consideration of Fraud
SUPPORTING MATERIAL
  PDFSlides: Consideration of Fraud
  PDFConsideration of Fraud Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM