Financial reporting frauds that are currently endemic, posing threats to accounting clients, users of financial statements, and professional service providers, are the focus of this one-day training program now available from Epstein + Nach LLC.
This course provides in-depth coverage of a wide spectrum of financial reporting (accounting) fraud techniques, and the audit approaches and specific tools needed to detect them. The program will also be useful in advising clients on controls and other devices needed to prevent or timely detect frauds. The session is designed for a high level of interaction between the instructor and participants.
Topics covered in the course include:
The Cost and Types of Financial Reporting Frauds
The Costs to Society
The Costs to the Public Accounting Profession
The Evolution and Limitations of Fraud Risk Models
Current Models: Fraud Triangle, Diamond, and Pentagon
The Psychology of Fraud and Need for Refined Models
Analyses of Important Recent Financial Reporting
Comprehensive Overview: The Methodologies of Fraud
Major Cases Illustrating Accounting and Auditing Failures
Methodologies for Detection of Financial Reporting Frauds
Using Analytical Procedures to Identify Fraud “Red Flags”
Auditing Tools to Corroborate Existence and Magnitude
Tools You Can Use: Prevention and Detection
Improved Interviewing Strategies
Substantive Testing to Find Fraud
Internal Controls: Importance, Elements, Verification Processes
Cutting Edge Techniques to Improve Audit Effectiveness
On the Horizon: SEC and PCAOB Projects
The SEC Accounting Quality Model Project
The PCAOB Audit Quality Indicators Project
Promising Academic Efforts
Attendees will receive extensive materials that are ready for use in client engagements.
The clinic is taught by Ralph Nach and includes 8.0 CPE credits (3.0 for Accounting and 5.0 for Auditing).
Contact Epstein + Nach LLC
Ralph Nach, CPA
Principal
+1 (847) 372-6805
RNach@ene.llc
Click on the link to download a course description for the Financial Reporting Fraud Clinic.