Deceptive practices in financial statements continue to be a problem. This program discusses historical cases where fraudulent financial statements were not identified by an auditor and how to avoid these problems in the future.
Learning Objectives
• Recognize areas on financial statement deception
• Develop internal controls to limit the reduce fraud risk
• Incorporate knowledge of fraudulent activities while preparing or auditing financial statements.
• Identify how standards have been developed to help the financial statement preparer and auditor to identify misrepresented financial statements
Major Topics
• A case study approach to financial statement fraud
• Cases on misrepresentation of assets, including cash, inventory, accounts receivable, fixed assets, goodwill and reserves
• Common methods of deceiving users of financial statements
• Red-flags in fraud
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