All About Fraud – Examples, Prevention and Auditing

Fraud is constantly in the news. Whether it's employee retention credit mills, FTX, or the City of Dixon, it appears like fraud is everywhere. We'll start this session with a review of the common fraud schemes as identified in the 2024 Report to the Nations. We'll also review the commonalities of fraudsters. We'll then look at methods of prevention. We'll close by looking at the auditor's responsibility for the consideration of fraud in AU-C 240.

Upon completing this course, learners will be able to:
Recall common fraud schemesIdentify preventative measures to deter fraud
Recognize recent frauds in the news
Recall the data from the 2024 Report to the Nation
Identify the responsibility of the auditor with respect to fraud