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This course examines all the types of fraud considered by auditors when auditing financial statements. At the end of this course, you will be able to:

  • Know the types and the characteristics of different types of fraud.
  • Identify the SAS that provides guidance to auditors in assessing the risk of fraud.
  • Know the three elements identified by the AICPA to prevent, deter, and detect fraud.
  • Know the procedures to address the risk of management overriding internal controls that are otherwise operating effectively.

Learning Objectives

  • Identify the three types of fraud.
  • Identify the SAS that provides guidance to auditors in assessing the risk of fraud.
  • Recognize the three elements identified by the AICPA to prevent, deter, and detect fraud.
  • Recognize who is responsible for identifying and measuring fraud risks and taking steps to mitigate identified risks.
  • Identify the procedures to address the risk of management overriding internal controls that are otherwise operating effectively.
  • Recognize the characteristics of different types of fraud.
Last updated/reviewed: June 14, 2021

9 Reviews (30 ratings)Reviews

5
Anonymous Author
Well organized. Clearly stated. Easy to follow. Relatable.
5
Member's Profile
Very long course. Lots of useful and detailed information. I suggest to open slides, while listening, since some slides shown during presentation are not readable.
3
Member's Profile
The slides were difficult to read and the narration was reading not really teaching. The content was very good but the delivery not so much.
4
Anonymous Author
Great concise explanation of fraud risk, audit responsibilities, management responsibilities and reporting mechanisms.
4
Anonymous Author
Good information. Some slides hard to read and/or not aligned with speaker. Good examples for each section.
5
Anonymous Author
Good class with a lot of information shared. Great overview for non-auditors to take for a refresher.
5
Anonymous Author
a lot of information about fraud, need to review it again. but so helpful and important too.
3
Anonymous Author
If I am just going to be read to, I would rather read the material myself.
4
Anonymous Author
The course gave me a good insight of Fraud Auditing.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

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
  2:31Introduction to Fraud Auditing
LESSON 1
  10:55Fraud Definition
  9:35Fraud Definition Continued
LESSON 2
  10:15Duration of Fraud Schemes
  9:16Duration of Fraud Schemes Continued
Lesson 3
  9:35Type of Organization Susceptible to Financial Fraud
  10:02Type of Organization Susceptible to Financial Fraud Cont'd
LESSON 4
  10:14Mitigating Fraud Risks
  10:22Mitigating Fraud Risks Continued
LESSON 5
  10:45Signs of Revenue Fraud
  9:28Signs of Revenue Fraud Continued
LESSON 6
  10:59Reporting Mechanisms
  9:59Reporting Mechanisms Continued
CONTINUOUS PLAY
  2:03:56Fraud Auditing
SUPPORTING MATERIAL
  PDFSlides: Fraud Auditing
  PDFFraud Auditing Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM