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Fraud Examination for Managers and Auditors

Exam Questions: 120
Course Level: Basic
Pages: 486 | Content: 476, Supplemental: 10
NASBA Area of Study: Auditing
Not Acceptable for: Enrolled Agents
Version: 5065J

This course is an ideal introduction for beginners in the field of fraud examination and fraud-awareness auditing. It outlines the basics surrounding fraud examination including the law and criminology, presents the components associated with employee and management fraud, and provides an overview of the general fraud examination methodology and fraud theory approach. It also explains how audits of financial statements can be developed to detect fraud in consideration of different accounting cycles. The purpose of this course is to give practical guidance and enhance the financial professional's ability to recognize, detect, and prevent financial fraud in organizations as it relates to financial statement reporting. This course is ideal material in the field of auditing for fraud. PLEASE NOTE: Course material is similar to #5695: Introduction to Fraud Examination, #5700: Auditing for Fraud Detection, #6000: Employee Fraud, #6005: Management Fraud, and #6180: Introduction to Fraud in Cash Collections and Disbursements; therefore, we recommend that you should not take #5695, #5700, #6000, #6005 and/or #6180 in the same CPE reporting period. Not acceptable for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • Chapter 1 - Law Related to Fraud
  • Chapter 2 - Criminology Related to fraud
  • Chapter 3 - Employee Fraud
  • Chapter 4 - Management Fraud
  • Chapter 5 - Fraud Examination
  • Chapter 6 - Fraud Awareness Auditing
  • Chapter 7 - Overview of Internal Control
  • Chapter 8 - Cash Collections and Receivables
  • Chapter 9 - Cash Disbursements and Payables
  • Chapter 10 - Payroll Accounting
  • Chapter 11 - Cost Accounting
  • Chapter 12 - Investments, Liabilities, and Equities
  • Chapter 13 - Fraud Detection Audit Procedures
  • Chapter 14 - Auditors' and Investigators' Responsibilities
  • Chapter 15 - Analysis of Digit and Numbers Patterns
Objectives
  • To recall the law as it relates to fraud including criminal and civil actions for fraud
  • To recognize various federal criminal fraud statutes
  • To identify various types of crime and corporate illegal behavior
  • To identify various employee fraud schemes
  • To recognize management fraud techniques as they relate to misstated financial statements
  • To identify the fraud theory approach and the methodology of such
  • To recall documentary and interview techniques
  • To recognize the nature, signs, prevention, and detection of fraud as it relates to performing financial statement audits
  • To identify types of fraud, characteristics of fraudsters, and conditions that make fraud possible
  • To recall fraud prevention methods and fraud detection signs
  • To recognize internal controls as they affect financial recordkeeping and reporting
  • To identify various elements that make up a financial reporting control system
  • To identify audit procedures and fraud identification techniques appropriate for cash collections and receivables
  • To recognize procedures to perform for audit evidence related to cash disbursements and payables
  • To recall elements of the payroll control system
  • To recall various aspects of controls over the production cycle
  • To recall functions of the finance and investment cycle and how to evaluate the controls over them
  • To recognize some practical techniques for developing fraud-detecting procedures
  • To recall the auditors' responsibilities for fraud detection
  • To recall what is Digital Analysis

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.