Minimize the Risk of Fraud by Complying With SAS 122 / AU 240
As an auditor, finding a discrepancy in a financial statement is the easy part – deciding whether it qualifies as a fraud or a material misstatement can be challenge. It is important that auditors and audit companies stay on top of the SAS codes and AU-C sections so that they can avoid the risk of costly fines and legal action.
Join Dennis F. Dycus in this information-packed webinar where you will learn what to look for to identify the characteristics of fraud. Dycus will explain the mandatory procedures to determine if fraud has occurred, and whether it is material to the overall fair presentation of the financial statement. He will discuss the extent of your responsibility of reporting fraud, including whom you should be reporting it to. He will also clear the concept of materiality related to a material misstatement of the financial statements due to fraud.
After attending this webinar, you will be conversant with the objectives of SAS 122 and AU 240. You will be able to confidently distinguish between a fraud and a dumb mistake, and know how to format a fraud report. Plus, you’ll learn that one thing you are prohibited from saying in a fraud report.
This webinar will bring you up to speed with:
How to prevent and detect fraud
How to recognize the indicators of fraud
What to do when fraud is discovered
How to format a fraud report
What is necessary to document compliance with SAS 122, AU-C 240, and consideration of fraud in a financial statement audit
The importance of maintaining professional skepticism
The importance of oral communication
The mandatory audit procedures related to the detection of a material misstatement of the financial statements that the auditor must now perform on every financial audit
The one thing you are prohibited from saying in a fraud report
Dennis F. Dycus, CPA, CFE, CGFM is a trainer, consultant and public speaker.
For the last several years he has developed and/or conducted training programs in all fifty states, Puerto Rico, Guam, Mexico, Canada and Europe, for organizations such as the Association of Certified Fraud Examin...