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Livestream: Evaluating Fraud Risk in a Financial Statement Audit

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Monday, June 1, 2020 @ 8:30am 12:00pm
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Description

The Association of Certified Fraud Examiners says that there is fraud lurking in all businesses including not for profit organizations. It often goes undetected for years and when uncovered, management and the board may question why the auditor did not identify it. The auditor's responsibility in a financial statement audit is to assess risk and perform sufficient procedures to obtain reasonable assurance that the financial statements are free from material misstatement due to fraud or error. However, failure to perform an adequate fraud risk assessment and report deficiencies in internal control, such as lack of segregation of duties can leave a firm vulnerable. This course will discuss the audit procedures that should be performed in accordance AU-240 as recently amended, best practices in performing fraud risk assessment procedures, when and how to report control deficiencies noted in an audit and the most frequent types of fraud found in small to mid-size entities along with internal controls that could be implemented to help prevent and detect them. This course features case studies.

Credits

Category Amount
Accounting&Auditing 4.00

Course Materials

Links to the e-materials will be listed with your course registration in your account on the MSCPA website seven calendar days before the course. You will receive an e-mail when the materials are available.



Leaders

Bob Mims

Bob Mims, CPA is a financial consultant & COO of a membership-based start-up venture. He has served as CFO and Controller of large non-profits and was an auditor & recruiter with KPMG. Bob has extensive training & facilitation experience working on national conferences & international engagements. He served terms on two advisory councils for FASB & currently chairs the Environmental Roundtable. Bob lives in Memphis, TN.