Navigating Audit Challenges – Fraud, Illegal Acts, and Ongoing Auditor Responsibilities

This course provides a comprehensive overview of the auditor’s responsibilities in complex financial reporting environments, with a strong focus on how companies manipulate financial statements and operating cash flow through revenue and expense schemes, asset and disclosure distortions, classification and timing tactics, structured transactions, and misleading presentation, including non-GAAP measures. Building on that foundation, the course examines how auditors respond to fraud indicators and potential illegal acts, including evaluating their impact and communicating appropriately with management and the audit committee. It also covers required audit committee communications throughout the engagement, auditor responsibilities for engagement deficiencies and the subsequent discovery of facts after report issuance, and the purpose, scope, and limitations of comfort letters in securities offerings.