Self-Study
7
Basic
Auditing
There are no prerequisites.

Course Description

In Assessing Fraud Risks: Understanding Common Fraud Schemes, Marshall Romney details all of the important aspects of an audit. You'll cover everything from planning for the audit to completing your report, with details on each step in the process explained. Examples of real frauds perpetrated are included, giving you case studies to assess and analyze, training you to identify how a fraud begins and is executed. You'll also receive guidance on all of the relevant proclamations and publications regarding the legal requirements of the auditor. This course will give you a complete view of the functions, limitations, and responsibilities of the auditor, leaving you with a firm grasp of how to organize and implement an audit.

Please note that some of the information in this course is also contained in Fraud Prevention, Detection, and Audit.



Instructor

Marshall Romney, CPA, PhD, CFE

Marshall Romney, CPA, PhD, CFE, is the John and Nancy Hardy Professor of Accounting and Information Systems in the Marriott School of Management at Brigham Young University (BYU). He holds a bachelor's and a master's degree from BYU. Upon graduation, Marshall worked as an auditor with Touche Ross & Co. in Los Angeles. Marshall left public accounting to earn a PhD in accounting from the University of Texas at Austin. At Texas, Marshall was twice awarded the Arthur Andersen Accounting Excellence Award and was awarded a dissertation grant from R. D. Irwin.

Marshall has published 25 books, including the leading text on accounting information systems. He also has had over 100 articles published in academic and professional journals or as book chapters. Several of the articles have been nominated for and won the journal’s article of the year award. He is the recipient of eight research grants from CPA firms, the Institute of Internal Auditors, and the American Accounting Association. He has made almost 70 presentations at academic and professional conferences. He has been on the editorial board of 10 academic and professional journals and has served as a reviewer for 7 others. He has developed 12 CPE courses, including self-study courses for Western CPE, and has taught for or consulted with over 60 different organizations.

Marshall is a past president of the Information Systems section of the AAA. He was a member of both the Information Technology Executive Committee and the IT Practices Subcommittee of the AICPA. He was the chairman of the Information Technology Committee for the Utah Association of CPAs, who presented him with the outstanding chairperson award. He has served on numerous other committees for the AICPA, AAA, UACPA, and the IIA. He was an advisor to the National Commission on Fraudulent Financial Reporting.

At BYU, Marshall is the chair of the Information Systems Department and is the director of both the graduate and undergraduate Information Systems programs. He has also served on the University’s Faculty Advisory Council, the MSM Executive Committee, the MSM Evaluation Committee, and numerous department committees.



Course Specifics

Auditing
Jun 27, 2017
There are no prerequisites.
SS9153044
151
None


Compliance Information

103220
Qualifies for CA Fraud: 3 Aud, 4 CA Fraud


Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Define fraud.
  • List the conditions necessary to commit fraud.
  • Identify the types of misstatements that occur when fraud is committed.
  • Cite the requirements outlined in SAS No. 82 and 99 as well as AU-C 240.

Chapter 2

  • Identify fraudulent financial reporting risk factors, which include pressure/incentive risk factors, opportunity risk factors, and attitude/rationalization risk factors.

Chapter 3

  • State the risk factors associated with the misappropriation of assets, including pressure/incentive risk factors, opportunity risk factors, attitude/rationalization risk factors, and other asset appropriation risk factors.

Chapter 4

  • Identify audit planning requirements.
  • Cite the types of inquiries and analytical procedures that should be made to obtain information to identify fraud risks.
  • List the factors that should be considered when identifying risks.
  • Name the requirements for assessing the identified risks.

Chapter 5

  • Identify responses to risks that threaten the nature, timing, and extent of the audit procedures, and the misappropriation of assets and fraudulent financial statement fraud risks.
  • List various types of inventory fraud and identify responses auditors should consider when investigating inventory-fraud risk.

Chapter 6

  • List the methods companies use to commit revenue-recognition fraud.
  • List techniques auditors can use to identify these risks.

Chapter 7

  • Cite the most likely occurrences of fraudulent or inadequate disclosures and audit procedures to detect them.
  • Identify how companies conceal off-the-book information and how management estimates are used to manipulate earnings.
  • Cite responses to the risk of management overriding controls.

Chapter 8

  • Determine audit test results by assessing fraud risks.
  • Utilize analytical procedures to detect fraud.
  • Identify fraud risk at the end of the audit.
  • Identify misstatements that may be the result of fraud.
  • List fraud findings, documentation requirements, and steps an auditor can take to acquire further knowledge about fraud.


Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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