Self-Study
7
Intermediate
Auditing
A working knowledge of the basic concepts of fraud prevention systems is beneficial but not mandatory.

Course Description

It's critical that auditors familiarize themselves with current procedural, performance, and documentation standards related to fraud. However, awareness of fraud is not just for auditors anymore. For the first time, fraud is defined in SSARS No. 21 as it pertains to review engagements, meaning that financial professionals must be equipped with skills to respond to fraud. This course will provide an overview of fraud risk assessment required by current professional standards and an in-depth review of the specific fraud-related requirements, including changes resulting from recent audit and review standards. Other topics covered include how to identify potential problem areas, develop a prevention plan, and use the necessary tools and techniques needed to minimize the loss of any client-initiated legal claims. You will learn effective loss-prevention strategies based on scenarios and actual war stories. Maximize your value to your client by preparing yourself to detect, prevent, and respond to fraud.



Instructor

Tom Noce, CPA

Thomas Noce, CPA, CFE, has over 37 years of experience in the field of public accounting, including eight years as a partner in a midsized firm. He began his independent practice in 2003. His specific areas of experience include accounting and financial reporting, auditing, litigation support, fraud prevention and detection, business and personal financial planning, individual Indian taxation, and personal and business taxation. Thomas has been a teacher and lecturer at many events, including most recently the AICPA’s National Advanced Accounting & Auditing Technical Symposium in 2013. He has multiple publications and is a co-developer of the Risk Assessment Toolkit.



Course Specifics

Auditing
Nov 10, 2017
A working knowledge of the basic concepts of fraud prevention systems is beneficial but not mandatory.
SS9179029
163
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

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

Chapter 1

  • Detail the evolution of the risk-assessment suite of standards.
  • Identify fundamental concepts necessary to implement risk-assessment procedures.
  • Compare requirements of current standards with those recently issued as clarity standards.
  • Recognize the audit-risk model.

Chapter 2

  • Recognize how the current standard evolved.
  • Identify the standard’s provisions and their implication on current practice.
  • Apply practical implementation guidance for application in audits using GAAS.
  • Recognize changes resulting from the Clarity Project.

Chapter 3

  • Determine the nature of the current audit practice environment.
  • Recognize the fraud risk exposures of the nonaudit practitioner.
  • Identify the current perception of the CPA by the general public that has resulted in the “expectation gap.”
  • Recognize the evolution of current standards as they relate to risk assumed by the auditor.

Chapter 4

  • Recognize various types of fraud schemes for both misappropriations of assets and fraudulent financial reporting.
  • Identify various symptoms (red flags) related to each of the common schemes presented.

Chapter 5

  • Identify primary fraud risk exposures that practitioners face in a nonaudit practice.
  • Determine the key areas that are the primary cause of this fraud risk exposure.
  • Apply proactive strategies that, if implemented, can assist in mitigating this risk.
  • Compare various practice aids to assist in implementing these strategies.


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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