The public places high value assurance services provided by an external public accountant, as the CPA’s involvement directly enhances the degree of confidence intended users can place on the financial statements to make economic decisions. A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. Professional skepticism is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error.

Major Topics:

  • Understand the importance of professional skepticism, especially when performing audit or other attest services
  • Recognize specific fraud responsibilities in a financial statement audit
  • Explain the varying levels of persuasiveness of evidence to support assurance conclusions or opinions
Learning Objectives
  • Discover and discuss traits of a skeptical auditor.
  • Explore and explain applying professional skepticism on any assurance service.
  • Recognize and describe fraud, including examples of fraud indicators.
  • Identify and discuss the auditor’s responsibility for identifying and responding to fraud in a financial statement audit.
Last updated/reviewed: August 4, 2023

Included In Certifications

This course is included in the following Certification Programs:

13 CoursesAudit Training Certification - Level 1 - Beginning Staff

  1. Professional Skepticism - Creating a Mindset for Finding Fraud and Error
  2. Audit Documentation - Creating Workpapers That Pass Review
  3. Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits
  4. The Audit Risk Model - Understanding Foundational Principles
  5. Internal Control Fundamentals - Satisfying Audit Requirements for Evaluating Design and Implementation
  6. Auditing Cash - Applying Basic Skills to the Starting Point of Any Audit
  7. Auditing PP&E, Including Leases under Topic 842 - Digesting the Risks of Improper Treatment of Tangible Long-Lived Assets
  8. Auditing Inventory - Performing Required Observations and Other Common Procedures
  9. Analytical Procedures - Comprehending Financial Statement Audit Fundamentals
  10. Audit Reporting Fundamentals - Introducing Core Concepts in the Audited Financial Statement Drafting and Issuance Process
  11. AICPAs Code of Professional Conduct - Exploring the Foundational Principles Underlying the CPA Profession as a Whole
  12. Accounting Update - Hot Topics for Preparing Current Period Financial Statements
  13. Auditing & Attest Update - Hot Topics for Current Period Audits and Other Attest Services
187 Reviews (904 ratings)

Reviews

5
Anonymous Author
Good overview on professional skepticism and fraud. As companies look to maximize profits and meet shareholder demands the ability to examine audit evidence properly and with a level of skepticism is vital.

5
Anonymous Author
taking this course is like reviewing what I had learned in my Master. it is good to refresh my knowledge afterall.

5
Anonymous Author
The instructor is extremely knowledgeable, and content of this course was very interesting and informative.

5
Anonymous Author
A good refresher on the need for and importance of professional skepticism.

5
Anonymous Author
It is difficult to disagree with the facts and methods presented.

5
Member's Profile
good class, like the sections on actual fraud cases

5
Member's Profile
Comprehensive course with balance between some real life examples and general explanation of policy. Instructor creates all of her classes to be interesting and relevant by focusing on the most important areas, also as a subject expert she can narrate freely without simply reading the slides, and also we get chapter-end riddles :))) Classes are more advanced than most on Illumeo, which I appreciate.

5
Anonymous Author
Professional Skepticism - Creating a Mindset for Finding Fraud and Error Professional Skepticism - Creating a Mindset for Finding Fraud and Error Professional Skepticism - Creating a Mindset for Finding Fraud and Error Professional Skepticism - Creating a Mindset for Finding Fraud and Error Professional Skepticism - Creating a Mindset for Finding Fraud and Error

5
Member's Profile
As an ex-public accountant now working in industry, this course was an excellent refresher on the importance of professional skepticism. While it focused on the audit setting, it still held value to encourage all accountants to evaluate data, assumptions, and work product with skepticism to promote integrity in any work environment.

5
Anonymous Author
The CPA's obligations as they relate to fraud are far less defined than the technical expertise they obtain during school studies and field work, and this course does a good job of emphasizing that. Professional skepticism is less of a technical skill and more of a soft skill, and this course did a good job of distinguishing.

5
Member's Profile
This course was well worth the time. Maintaining professional skepticism is obviously easier said than done. All CPAs (not only auditors, be also those dealing with tax clients and those working in industry) should practice maintaining a sense of skepticism. The result will always be a better work product.

4
Anonymous Author
Creating mindset for fraud and error learning objective was met. Good review of discussing traits of skeptical auditor. Good review in describing fraud and the examples are helpful. Good review discussing the auditor's responsibility for identifying and responding to fraud in a financial statement audit

5
Anonymous Author
Great course on the basics of professional skepticism, an invaluable trait to have as a member of any engagement team. Even after transitioning into an industry position, this remains an area of heightened importance and this course has reaffirmed my commitment to high integrity.

5
Anonymous Author
Engaging speaker. I enjoyed the real life examples and the brain teasers at the end of each section. This was a very informative course and the mixing in of discussion questions, pulse checks, examples and the case studies helped to solidify the concepts being presented.

5
Member's Profile
loved this class. She was well prepared and had great knowledge of the subject discussed. this was my first course I followed with her and I will definitely be looking for more produced by her. I recommend to anyone interested in learning about fraud to take the course.

5
Anonymous Author
This was a very well-presented course. The instructor provided many examples for the topics covered. This enabled better comprehension of the material. The jokes were a nice added bonus! I will definitely take other courses taught by this instructor.

5
Anonymous Author
I liked that the instructor for the course presented the material in such an informative and accessible manner for others to understand. She provided excellent examples and analogies for participants to follow and truly grasp the explained concepts.

5
Member's Profile
This is my first week of working in auditing ever, this helped me quite a bit. The mindset seems somewhat harder to teach but this does a good job of what kind of things to think of and then i just have to remind myself to be in that mindset.

5
Anonymous Author
Professional skepticism, an attitude that includes being alert and a questioning mind, is an essential part of our duties as an auditor. This brief course explained what professional skepticism is brilliantly.

5
Anonymous Author
Jennifer presented the materials in an organized manner and it was easy to follow and follow. The pulse checks were helpful in applying the material and her explanations helped drive home key-take aways.

5
Member's Profile
This course enhanced my understanding of professional skepticism. The instructor had very helpful examples to help make the concept more practical. This course was actually really smooth to follow through!

5
Anonymous Author
Great course for auditors and those in industry alike. Being in industry it is important to have the soft skills discussed to determine if mistakes are being made within an entity or by management.

5
Anonymous Author
This was a good refresher on the topic of Professional Skepticism. Though an experienced auditor, I still learned some new things. I think it would also be a great course for new auditors to take.

4
Anonymous Author
The course is very informative and provides illustrative samples of fraud. It would be beneficial if the course would also provide the summary of results indicating the correct/incorrect answers.

5
Anonymous Author
I thought that the conversation and teaching was very on point. Examples given were very realistic. The material was presented in a way that was holistic. Very easy to follow, great course.

5
Anonymous Author
Great overview of the aspects of financial statement audit related to identifying and detecting misstatements whether whether those misstatements are due to fraud or misrepresentation.

5
Anonymous Author
The course was informative and the material was laid out in a very organized, simple manner. A great deal of material is covered, but is summarized well and is easy to digest.

5
Anonymous Author
The material was organized in appropriate section. The speaker provided ample examples to explain the concepts of professional skepticism and fraud risk assessment by auditors.

5
Member's Profile
This is a good course on recognizing or identifying fraud. The instructor does a great job of making the course interesting with the use of some real world examples of fraud.

5
Anonymous Author
I think that all people in accounting would benefit greatly from this course. I liked this course because it is a good reminder of what to look out for when auditing a client.

5
Anonymous Author
Definitely one of the most important aspects of being a good auditor. If professional skepticism is not evident for an auditor, a proper audit will not be accomplished.

5
Member's Profile
Ms. Louis gave clear explanations and strong real examples of what fraud is and the required professional skepticism is. The course was well laid out and well presented.

5
Anonymous Author
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5
Anonymous Author
It was great to have pulse checks throughout the course to discuss the concepts that were taught. This is a great course for auditors, both internal and external.

5
Anonymous Author
This course was a good review of professional skepticism. The examples were good and the speaker added some humor to the subject. The speaker did a great job1

4
Anonymous Author
Detailed and clear explanations of the necessary mindset to find fraud and error. Examples in the evidence overview is broken down to an easy way of learning.

5
Anonymous Author
The Professional Skepticism-Creating a Mindset for Finding Fraud and Error course was beneficial, because of how serious fraud has become in the work place.

4
Member's Profile
Test questions were a little hard to follow. Had to re-read multiple times to understand the actual questions. Suggest re-wording to make them clearer.

5
Anonymous Author
This course was a great mix of real world fraud examples and concrete information on how to have professional skepticism. The jokes were funny, too.

5
Anonymous Author
Great course that really gave me some good things to think about as I reflect on the controls environment and risk of fraud within my own organization.

5
Member's Profile
The instructor was very engaging and did a great job of not just reading the slides on the page. Her additions were meaningful. I enjoyed this course!

4
Member's Profile
Truly an eye opener as to what is required from outside auditor's and why the ask for the evidence and supporting documents during the audit process.

5
Anonymous Author
Ms Louis' presentation on this topic was so well done that it was easy to follow, stay engaged, and understand for the whole course. Well done!

4
Anonymous Author
Coming from public accounting, this course is a good refresher. The speaker is very knowledgeable and the the materials used are very helpful.

4
Anonymous Author
I believe that these fraud classes are much more valuable than the annual ethics classes that our state board mandates that we have annually.

4
Member's Profile
I liked the straightforward nature of the course, reinforcing the auditor mindset. It was well presented and the questions were thoughtful.

5
Anonymous Author
A very useful and helpful refresher on how important professional skepticism. If something appears off you should follow your instincts.

4
Anonymous Author
This course was easy to take and the final exam was fair, but I didn't really learn anything from it. The content seemed pretty generic.

5
Anonymous Author
I enjoyed this course as a refresher of how and why to maintain professional skepticism. The real world examples are always interesting.

4
Anonymous Author
This gives a good crash course on how and where to apply professional skepticism in your day to day work. Extremely useful for auditors!

5
Anonymous Author
I liked the real world examples with succinct descriptions of the three pillars of fraud. Good to keep in front of mind as an auditor.

5
Anonymous Author
Material were relevant to the objectives, well taught and easy to follow. Appreciated the fun questions at the end of the sections.

5
Anonymous Author
This course was well worth the time and effort to take it. Content was on point, instructor was engaging, and delivery was effective.

4
Member's Profile
Instructor was interesting and stayed engaging throughout. Good review of professional skepticism and fraud prevention and detection.

5
Anonymous Author
It was a good review of why auditors should use professional skepticism and not forget that you can't trust because people are nice.

4
Anonymous Author
Great topic and examples given. This is an easy to follow course and well explained. Thank you and great job presenting the course.

5
Anonymous Author
Whether in or out of public accounting, this topic remains key. I think the course did a great job of driving home the material.

5
Member's Profile
i thought this was a solid course and i liked the real-world examples because it made the topic more interesting and tangible.

5
Member's Profile
Very interesting course. The instructor was very knowledgeable in the subject matter. I learned much more about this subject.

5
Member's Profile
Excellent coverage with great examples of professional skepticism and maintaining it throughout audit engagements. Kudos!!!!!

5
Anonymous Author
I appreciated the real-life examples of fraud and would have enjoyed a more in-depth view of World Com's fraudulent reporting.

5
Anonymous Author
Excellent course by Jennifer here. It's always great to be reminded of the mindset you have to operate with to detect fraud.

5
Member's Profile
Great course relating to an attitude of professional skepticism and the need for it in detecting fraud. Easy to understand

5
Anonymous Author
good overall review with succinct examples to illustrate the key issues. presented nicely and clearly so it is easy to grasp

5
Anonymous Author
This was a good discussion about professional skepticism. A good reminder to have an open mind and not make assumptions.

5
Anonymous Author
Great course, overall enjoyed the refresher on material I previously learned. Enjoyed that I was able to get 2.5 credits

4
Anonymous Author
This course was good. There was a lot of good information I could use on the job. Specially persuasiveness of evidence.

5
Anonymous Author
Great course discussing information around fraud. Great for people with an auditing or soon to be auditing background.

5
Member's Profile
The course was great! It provided a number of things to consider when determining material misstatement due to fraud.

4
Anonymous Author
gOOD HIGH LEVEL OVERVIEW OF PROFESSIONAL SKEPTICISM. Practical questions and examples help renforce the concepts.

5
Anonymous Author
This was a great course and was very informative. It was a good refresher on the area of professional skepticism.

5
Anonymous Author
Good case study examples in this Professional Skepticism course and how auditors should be viewing risk of fraud.

5
Anonymous Author
The course provides interesting examples of fraud and explains the auditor's role in identifying fraud and error.

5
Anonymous Author
The instructor did a great job in explaining the concepts of professional skepticism , the training was worth it.

5
Member's Profile
She was very engaging and did not just read off her slides but what she said complemented the powerpoint slides.

5
Member's Profile
straight forward refersher course on fraud professional skepticism auditors responsiblity and real life examples

5
Member's Profile
She is a great presenter and doesn't just read off the slides. She tries to make the presentation entertaining.

5
Member's Profile
Well articulated; took a lot of information and organized into easy to digest and understand learning pieces.

5
Anonymous Author
Remedial. I don't feel like I advanced via this content. Plus marks for ease of completion though, I suppose.

3
Anonymous Author
Other than the real life examples at the end of the course, there was little new or interesting information.

5
Member's Profile
I enjoyed the discussion. The explanations were clear. The examples were relatable. I chuckled at the jokes.

4
Member's Profile
This course is a great review of Professional Skepticism - Creating a Mindset for Finding Fraud and Error

5
Member's Profile
This was a helpful course which used the allotted time effectively to meet the stated learning objectives

5
Member's Profile
Enjoyed the puns and examples. The instructor offers helpful insights and perspectives on this topic.

5
Anonymous Author
This is a good course. I would recommend everyone in the world take this fantastic beauty of a course.

5
Anonymous Author
I really liked this course and felt that it provided a helpful introduction to professional skepticism.

5
Member's Profile
It was good to remind what I learned before. The material provided was quite well organized for leaner.

5
Member's Profile
Thorough and easy to understand. Materials were easy to access and the lessons matched the itinerary.

5
Anonymous Author
Good content and I recommend this course. Thanks!

5
Anonymous Author
Excellent course with great examples and real-world situations to demonstrate the course objectives.

5
Anonymous Author
Excellent course with great rationalization and examples of how to apply professional skepticism.

4
Anonymous Author
A good fraud overview course. Recommend for those with a beginner's level understanding of fraud.

4
Member's Profile
well done. Can't decide if I like or dislike the corny jokes at the end of a few of the segments

5
Anonymous Author
Great course covering professional skepticism thoroughly, a very important topic for any auditor!

5
Member's Profile
I thoroughly enjoyed this course and look forward to utilizing the information in my job today.

5
Anonymous Author
great review of the important of having a questioning mind in the accounting and finance field.

5
Anonymous Author
The course was good and engaging in nature. It has practical reminders to use in everyday work.

4
Anonymous Author
This is a good overview of risk assessment concepts. Thanks for a solid course on the subject.

5
Member's Profile
Good course, presented in a manner which informed, however, didn't put the attendee to 'sleep'.

5
Anonymous Author
I always enjoy catching up with fraud practices and how to stop them, so this was entertaining.

4
Member's Profile
Good practical advice, and pertinent examples, but especially loved the brain break jokes!...

4
Member's Profile
Comprehensive review of attitude necessary to conduct audits with an open, questioning mind.

5
Anonymous Author
Slides were easy to follow and presentation was done well - overall a nice refresher course.

5
Anonymous Author
This course was refreshing. The instructor was effective in presenting the course matrials.

5
Anonymous Author
Jennifer Louis is a very good teacher and communicator. I really enjoyed listening to her.

5
Member's Profile
Pretty good. Definitely would take this for understanding the ins and outs of the process.

5
Anonymous Author
It is a well covered material and lucidly presented. Real life examples of fraud are bonus.

5
Anonymous Author
fun class, very interesting, i enjoyed it. I like taking classes about audit and accounting

5
Anonymous Author
This course provides excellent insights into a healthy level of professional skepticism.

3
Anonymous Author
Need to have an understanding of all procedures pertaining to fraud in the auditing fields

5
Anonymous Author
It would be nice to think we live in a world without fraud but that is wishful thinking.

5
Anonymous Author
Good review of responsibilities regarding fraud for auditors at all levels of seniority.

4
Anonymous Author
This course serves as a good reminder prior to an audit engagement for all participants.

5
Anonymous Author
Great review of professional skepticism. Enjoyed the incorporation of real-world cases.

4
Anonymous Author
This was a helpful overview of professional skepticism and its application. Thank you.

5
Anonymous Author
Good course to take good speaker enjoy the goofy puns. Questions are straight forward.

5
Anonymous Author
Another excellent, high-level, course for foundational awareness of an important area.

5
Anonymous Author
Interesting course explaining fraud and mistakes. Can use more animation like in films

5
Member's Profile
This was interesting, reminded me of my first job out of college with internal audit.

5
Anonymous Author
Pretty good, conversational discussion. Great if you need a break from calculations.

5
Anonymous Author
Thoughtful presentation with helpful examples. Thank you for providing this course.

5
Anonymous Author
Interesting real world examples and helpful discussion of potential areas of fraud.

5
Anonymous Author
Great course to refresh my knowledge on the details around professional skepticism

3
Member's Profile
Very clear and well explained concepts that can be applied right away to our work.

5
Member's Profile
Materials were organized in the slides well and the content was easily understood.

5
Member's Profile
Good breakdown of professional skepticism and how it applies to audit engagements.

4
Member's Profile
Always an important refresh, especially around year end audit and reporting time.

5
Anonymous Author
Though I am not directly involved in audit, this is a lesson for every controller

5
Anonymous Author
instructor is great, very useful content; material is useful for day-to-day jobs.

4
Anonymous Author
Nothing to add for this course. Course is what I was thinking it would be like.

5
Anonymous Author
she was funny on a topic that can be very dry. pleasant enough voice to listen.

4
Member's Profile
Informative course. The jokes while I appreciate the intent were a bit corny.

5
Member's Profile
Great, informative course on the basics of professional skepticism and fraud.

5
Anonymous Author
Provides a great reminder that we should always use professional skepticism.

5
Member's Profile
Good content and presentation, appreciate the dad jokes randomly tossed in.

5
Anonymous Author
Review was a good overview of Professional Skepticism with helpful examples.

5
Anonymous Author
Great course, clear and concise, would recommend others to take this course

5
Anonymous Author
The information in this course was presented in a clear and consice manner.

5
Anonymous Author
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4
Anonymous Author
This course was informative and a good review of professional skepticism.

4
Member's Profile
it was kind of hard to find some answers in there, but it was pretty good.

5
Member's Profile
This chec the boxes. good and concise discussion of fraud and prof skept

5
Anonymous Author
Good review of what professional skepticism is and how to exercise it.

5
Member's Profile
Good course on maintiaining professional skepticism throughout an audit.

5
Anonymous Author
Great course to study! meaningful and informative.I love it! Thank you.

5
Member's Profile
I enjoyed the case studies & real life examples presented in the course.

5
Member's Profile
Good overview, particularly the part about persuasiveness of evidence.

4
Member's Profile
Well-balanced description of various concepts pertaining to the topic.

5
Anonymous Author
Good content - instructor was thorough and provided good case studies

5
Anonymous Author
Great contents. It showed all the important points what to look for!

5
Member's Profile
Jennifer was engaging and informative, highly recommend this course!

4
Anonymous Author
Solid review of professional skepticism with good real work examples

5
Anonymous Author
Very interesting and complete course, exited to learn more about it.

5
Anonymous Author
Mostly common sense - not sure why they make us write 50 characters

5
Member's Profile
Great explanation of information and good examples of application

5
Anonymous Author
Course was great. I enjoyed all the learnings and the final exam.

4
Member's Profile
good info, have to write more to get score, have to keep writing

5
Anonymous Author
Great class! I'm not an auditor but I could follow this easily.

5
Anonymous Author
Good and clear content - easy to follow with relevant examples.

4
Anonymous Author
Great course. Clear outline in pages provided. Would recommend

4
Anonymous Author
good training, lots of reminder about professional skepticism.

5
Anonymous Author
Very useful refresher on maintaining professional skepticism.

5
Anonymous Author
Information and presentation was well laid out and organized.

4
Member's Profile
Good refresher course. The instructor was clear and precise.

5
Anonymous Author
Instructor is very nice and keeps the discussion interesting

5
Anonymous Author
Good materials covering lot of contents with great examples.

5
Anonymous Author
A well organized presentation of this very important topic.

5
Member's Profile
Great topic and great test questions. Effective presenter.

5
Anonymous Author
very well structured course, easy to understand and follow.

5
Anonymous Author
This course was well presented and explained concepts well.

5
Anonymous Author
Good course thank you for providing it. I learned a lot.

5
Anonymous Author
The course was a good refresher on maintaining skepticism

5
Anonymous Author
wow what a course! so good! Loved everything about it!

5
Anonymous Author
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5
Member's Profile
Very thorough and good to see the auditor's perspective.

5
Anonymous Author
Great course to explain what is professional skepticism

5
Member's Profile
Very informative course. Well organized and presented.

5
Anonymous Author
I enjoyed this course, and I found it very informative

5
Member's Profile
Good course. The real life examples are very helpful.

5
Anonymous Author
Great real life examples used throughout the course.

4
Member's Profile
The online Class was easy to follow and informative.

5
Anonymous Author
Great overview of Fraud and auditor responsibility.

5
Anonymous Author
Loved the examples provided throughout the course.

4
Anonymous Author
good course. I would recommend and pace was good.

5
Member's Profile
Great course. Streamlined and efficient in design.

5
Member's Profile
very good course well structured and good examples

5
Anonymous Author
A great course on fraud detection for all levels.

Prerequisites
Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed for this course.
Designed For: Professionals who perform audits or attest services.

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 Professional Skepticism - Creating a Mindset for Finding Fraud and Error0:39
  What is Professional Skepticism?16:13
  Applying Professional Skepticism21:57
  Professional Skepticism Case Studies7:21
  PCAOB Practice Alert Related to Professional Skepticism8:39
  Persuasiveness of Evidence11:18
  Auditors Responsibility for Fraud11:26
  Auditors Responsibility for Noncompliance4:52
  Real Life Examples of Fraud13:30
  Tips for Maintaining Professional Skepticism3:40
Continuous Play
  Professional Skepticism - Creating a Mindset for Finding Fraud and Error1:39:35
Supporting Materials
  Slides: Professional Skepticism - Creating a Mindset for Finding Fraud and ErrorPDF
  Professional Skepticism - Creating a Mindset for Finding Fraud and Error Glossary/IndexPDF
Review And Test
  REVIEW QUESTIONSquiz
 FINAL EXAMexam