RFA4
THE AUDITOR’S RESPONSIBILITIES RELATED TO FRAUD AND ABUSE UNDER GAAS AND THE YELLOW BOOK

The clarified AU Section 240, Consideration of Fraud in a Financial Statement Audit, and the Yellow Book both contain auditor responsibilities related to fraud that are applicable to audits of not-for-profit entities and governments. The Yellow Book also contains auditor responsibilities related to abuse, which is a concept not found in GAAS. In this course, we will prepare you to meet the auditor’s responsibilities related to fraud and abuse under GAAS and the Yellow Book in audits of not-for-profit entities and governments. The course materials utilize a highly illustrative format to increase concept comprehension and retention.

Major Topics:

  • The current GAAS requirements related to fraud found in AU Section 240, Consideration of Fraud in a Financial Statement Audit
  • The current Yellow Book requirements related to fraud and abuse
  • Common conditions that indicate the financial statements may contain a material misstatement from fraud, and fraud risk factors frequently observed in not-for-profit entities and governments

Learning Objectives:

  • Confidently apply today’s requirements related to fraud and abuse to audits of not-for-profit entities and governments
  • Efficiently comply with the GAAS and Yellow Book requirements related to fraud and abuse

Designed For: Auditors of not-for-profit entities and governments and industry professionals interested in fraud
Level of Knowledge: Intermediate
Prerequisite: Basic knowledge of the not-for-profit and government environment
Advanced Preparation: None
Credits: 4
Field of Study: Auditing (Governmental)(4)
CFP Credit: No




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