Fraud Risk Assessment : Auditing

Описание: Content:
00:00 Introduction to Fraud Risk Assessment
00:44 What is Fraud?
01:31 Forms of Accounting Fraud
02:13 Example: Revenue recognition Manipulation by management
03:07 Impacts of Fraud
03:52 Forms of Asset Misappropriation
04:14 Example: Misappropriation done by audit managers
05:09 How to solve issues concerning asset misappropriation
05:22 Assessing the Risk of Fraud
06:03 Key components: PCAOB Audit standards
06:47 Importance of AS2401 (PCAOB) and Auditor roles for AS2401
07:59 Fraud Risk Factors
08:30 Example: Ethical Tone and Integrity
09:32 Previous instances of Ethical lapses
10:36 Components of Fraud Risk Factors
11:48 Impact: operating characters of financial conditions
13:31 Expected Auditing Standards for Financial Conditions
14:04 Employee behavioral Fraud Red Flags and Probability of Employee involvement in Fraud based on red flags
14:24 Examples of Employee Red flags: Financial Difficulty, Reluctant for time off, Secretive behavior, overtime work hours
15:55 How should Organizations develop auditing standards concerning Employee Red Flags
16:24 The Fraud Triangle (Components)
16:41 Component: Motivation
17:02 Example of Motivation/Pressure: Employee in financial debt
17:14 Component: Opportunity
17:35 Example: Employee with unrestricted access to financial reports
17:51 Component: Rationalization
18:14 Example: Employee rationalizing theft due to factors like low pay scale
18:25 Impact of each condition with respect to fraudulent financial reporting: Motivation
19:05 Impact of each condition with respect to fraudulent financial reporting: Opportunity
19:35 Impact of each condition with respect to fraudulent financial reporting: Rationalization
20:07 Understanding the probability of fraud when these conditions converge
20:51 Responding to Risk of Fraud
21:36 Roles of Auditors to identify fraud risk
22:16 How should Auditors evaluate Exceptions
22:46 Exceptions Auditors should be aware of
23:04 Example: Unusual revenue recognition pattern displayed by management
23:25 Example: Inventory write-down or reserve
24:13 Types of Discrepancies and Auditor Understanding based on that
26:09 Communication of Fraud Risks
27:14 How does the communication of fraud risks serve the purpose
27:39 What should be the criteria for the auditor to evaluate
28:06 Importance Document Fraud Matters
29:11 Components to be included Documentation
30:27 How does documentation help?

About Speaker:
Professor Helen Brown-Liburd is a tenured Associate Professor and the Associate Director of the Continuous Auditing & Reporting Lab (CAR Lab) at Rutgers Business School (RBS) in Newark, NJ.


#audit #risk #accounting