SAS 99 is designed for audits of commercial entities and focuses on fraud that misleads users of the financial statements. But when auditing a government program, fraud has a different character. Yes, the financial statements are important, but so is the intended beneficiary of the program. This course covers the steps of complying with fraud standards and guidance and discusses the taxonomy of fraud using a government example. Audit expert Leita Hart-Fanta will show you how to apply the fraud tree to your audit, present key differences between the Yellow Book and the AICPA regarding fraud, and provide a broader definition of fraud for government engagements.
Upon successful completion of this course, participants will be able to:
- Recognize the differences between auditors and investigators.
- Cite how to report the differences between using SAS 99 in a commercial or corporate environment and using GAGAS for a government audit.
- Identify differences between the elements that trigger findings per GAGAS.
- Recall the auditor's responsibility for detecting fraud in an audit per GAGAS.
- Identify fraud risk.
- Recognize the fraud triangle.
- Recall internal controls.
- Identify the major categories and types of occupational or employee fraud.
- Identify asset misappropriation.
- Recognize differences between frauds associated with certain programs.
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