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
100 Reviews (452 ratings)

Reviews

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

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

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

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

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

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
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.

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
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 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.

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
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
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
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.

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.

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.

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

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

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

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
Excellent coverage with great examples of professional skepticism and maintaining it throughout audit engagements. Kudos!!!!!

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

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
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
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.

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
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.

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

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

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.

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

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

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

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

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.

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
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
Great explanation of information and good examples of application

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.

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.

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

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

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

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

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.

5
Anonymous Author
Loved the examples provided throughout the course.

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

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