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@EpsteinNach.com
Click on the link to download a course description for the Financial Reporting Fraud Clinic.
About the Instructor
Mr. Ralph Nach, CPA, is the author, instructional designer, and facilitator of the popular annual Accounting and Auditing Clinic™ continuing professional education program. He has served as author, co-author, contributing author, or technical editor of a number of widely-utilized technical reference works, including PPC’s Interactive Disclosure Library, PPC/Thomson Reuters, 2011; PPC’s Guide to Preparing Financial Statements, PPC/Thomson Reuters, 2010; Wiley GAAP (2001–2010), John Wiley & Sons; and The Handbook of Accounting and Auditing, Warren, Gorham & Lamont, 1999.