This course uses cases of three recent accounting frauds to demonstrate the importance of internal controls, management oversight by the board of directors, and an organizational emphasis on ethics in the prevention of fraud. It also examines the CPA auditor's responsibility for internal controls and the prevention and detection of fraud as part of its work. The case studies utilized relate to Koss Corporation, Fair Finance Company, and Diamond Foods.
Upon successful completion of this course, participants will be able to:
- Identify the auditor’s responsibility for internal controls and fraud detection as part of its audit
- Cite the relationship between fraud and inadequate internal controls
- Describe the importance of independent board of director and audit committee oversight in the prevention of fraud
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