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Recorded: October 2020
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An auditor has responsibilities relating to fraud in the context of an audit. The requirements of CAS are designed to assist the auditor in identifying and assessing the risk of material misstatement due to fraud and in designing procedures to respond to and detect such misstatements.
Misstatements in the financial statements can arise from fraud or error. The distinguishing factor between fraud and error is whether the underlying action that results in the misstatement is intentional or unintentional. As fraud is intentional and involves schemes designed to hide misstatement, the risk of not detecting a material misstatement resulting from fraud is higher than the risk of not detecting one resulting from error.
Participants will identify the auditor’s responsibilities related to fraud and apply the standards when designing and performing procedures for audit engagements.
The objectives of this course are to increase the understanding ofhelp practitioners outline fraud responsibilities in the context of an audit and to help the auditor apply the standards in their assurance engagements in a meet the above objectives in a practical and efficient manner.
By the end of the course, participants will be able to:
WHO WILL BENEFIT
Practitioners in public practice who want to improve their ability to identify and assess the risk of fraud as well as who want to strengthen the work performed and documented in the assurance files in order to help them meet their responsibilities related to fraud in an efficient and effective manner.
CPD- 2 Hours