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: May 5, 2022
13 Reviews (66 ratings)

Reviews

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
Member's Profile
Great refresher on fraud auditing concepts, learning objectives are clearly defined and all chapters of fraud are clearly explained.

4
Anonymous Author
Great concise explanation of fraud risk, audit responsibilities, management responsibilities and reporting mechanisms.

3
Member's Profile
The instructor read the material instead of presenting the course. The reading is long and made me sleepy....

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.

5
Member's Profile
Great class but a bit long! Overall, there are benefits to taking the class.

3
Anonymous Author
If I am just going to be read to, I would rather read the material myself.

5
Anonymous Author
Well organized. Clearly stated. Easy to follow. Relatable.

5
Anonymous Author
Great summary of the risks of fraud in an organization.

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Fraud Auditing2:31
LESSON 1
  Fraud Definition10:55
  Fraud Definition Continued9:35
LESSON 2
  Duration of Fraud Schemes10:15
  Duration of Fraud Schemes Continued9:16
Lesson 3
  Type of Organization Susceptible to Financial Fraud9:35
  Type of Organization Susceptible to Financial Fraud Cont'd10:02
LESSON 4
  Mitigating Fraud Risks10:14
  Mitigating Fraud Risks Continued10:22
LESSON 5
  Signs of Revenue Fraud10:45
  Signs of Revenue Fraud Continued9:28
LESSON 6
  Reporting Mechanisms10:59
  Reporting Mechanisms Continued9:59
CONTINUOUS PLAY
  Fraud Auditing2:03:56
SUPPORTING MATERIAL
  Slides: Fraud AuditingPDF
  Fraud Auditing Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam