Failure to Detect Fraud and the Reasons Why
Online
2.00 Credits
Member Price $89.00
Non-Member Price $119.00
Overview
SAS 122, AU 240, Consideration of Fraud in A Financial Audit state that auditors fail to detect fraud for two reasons. One, they haven’t been trained to look for it and two, they don’t know what it looks like. I would like to add a third reason: they don’t want to find fraud because it causes problems for the audit.
This session is designed to familiarize auditors with the many faces of fraud; where and how to look for them and what to do if you think you have found fraud. Not everyone is able to recognize fraud. During this program, the attributes a fraud auditor (frauditor) will be discussed. In order to recognize fraud, an auditor must understand their client’s operation. What is an indicator in one client’s operation may be business as usual in another, and you have to know the difference. After viewing this program, chances are you will never look at your client the same way!
Objectives
- Explain common reasons auditors fail to detect fraud during financial audits.
- Describe the various forms and characteristics of fraud that may occur in organizations.
- Recognize indicators and warning signs of potential fraud within audit engagements.
- Apply practical techniques to identify fraud risks during the audit process.
- Evaluate client operations and business activities to distinguish normal practices from suspicious activity.
- Determine appropriate steps to take when potential fraud is identified during an audit.
Highlights
- Fraud Detection Challenges
- Fraud Characteristics
- Fraud Indicators
- Audit Responsibilities
- Fraud Risk Recognition
- Responding to Suspected Fraud
Designed For
Financial Auditors; Internal Auditors; Financial Administrators
Prerequisites
None
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Dennis Dycus, CFE, CPA, CGFM
Dennis F. Dycus, CPA, CFE, CGFM, Trainer, Consultant, Public Speaker has recently retired after 39 years with the Office of the Comptroller of the Treasury of the State of Tennessee as the Director of the Division of Municipal Audit where I was responsible for the audits of all local governments in Tennessee, with the exception of counties and their affiliated, units as well as conducting investigations related to fraud, waste, and abuse in local governments. For the last several years he has developed and/or conducted training programs in all fifty states, Puerto Rico, Guam, Canada and Europe, for organizations such as the Association of Certified Fraud Examiners; the American Institute of Certified Public Accountants; numerous state CPA societies; the Government Finance Officers Association; the Association of Government Accountants; the National Association of State Auditors, Comptrollers and Treasurers; Westcott Communications, Inc.; Western CPE; Accounting Continuing Professional Education Network; the Organization for Security and Co-Operation in Europe; IBM; HCA; NYC Presbyterian Hospital; Saturn, Inc.; Chrysler; Securities and Exchange Commission; the U.S. Department of Labor; U.S. Environmental Protection Agency; the Government Accountability Office; U.S. Office of Management and Budget; the Internal Revenue Service; US Bankruptcy Trustees; Bisk Education, Inc.; Nichols Education, Inc.; Symbion, Inc.; numerous state audit organizations; local ACFE, AGA and state CPA chapters; and individual professional firms. He frequently speaks at colleges and universities as well as various professional conferences, both on a local and national level. Dennis is a member of the AICPA; TSCPA; GFOA; TGFOA; ACFE (charter member), Middle Tennessee Chapter ACFE –Past President, current President Emeritus; AGA; Middle Tennessee Chapter AGA – Past President and he has authored articles related to the detection and prevention of fraud for several national publications. He attended Western Kentucky University, with a BS in Accounting, Class of 1969 and in 1986 he graduated from the Tennessee Government Executive Institute (TGEI).
Non-Member Price $119.00
Member Price $89.00