Online Seminar

Audit Engagements - Risk Related to Fraud (CAS 240)

Mar 09, 2023

Online

DATE

MAR 09

2023

TIME

8:30 AM - 12:30 PM

WHO CAN ATTEND

All

PD HOURS

3.75 Hours

ETHICS HOURS

0 Hours

STATUS

Registration open until

Mar 06, 2023

EVENT DESCRIPTION

NOTE: This course description has been revised and reflects updates for 2022. If you have any questions, please contact pdevents@cpaontario.ca

Formerly Titled: “Audit – Risk Related to Fraud (CAS 240)”

Misstatements in financial statements can arise from fraud or error, the distinguishing factor being fraud is intentional while error is unintentional. The requirements of CAS 240 are designed to assist the auditor in identifying and assessing the risk of material misstatement due to fraud and in designing procedures to detect and respond to such misstatements. This course helps to clarify the requirements of the standard and assists the auditor in meeting their responsibilities related to fraud.

A strong understanding of fraud risk factors is a good starting point in identifying the risk of fraud. This course will help practitioners to address their fraud responsibilities in the context of an audit by helping practitioners identify and assess the risk of fraud as well as design and perform required risk responses such as journal entry testing and incorporating unpredictability procedures into the audit. In addition, the course will help the practitioner determine next steps and assess the impact on the audit opinion when fraud is discovered or suspected including better understanding communications and documentation requirements. Finally, participants will learn how to maintain an attitude of professional skepticism throughout the audit which will help them to perform a quality audit and reduce their risk in an efficient and effective manner.

Topics Include:

  • Overview of CAS 240 and related requirements
  • Review of the key characteristics of fraud
  • Examination of required risk assessment procedures
  • Designing and performing audit procedures to address the risk of fraud
  • Evaluating audit evidence obtained and assess impact on planned audit procedures
  • Assessing the impact on the audit report and determining where modifications may be required
  • Documentation and communication requirements

  • Overview of CAS 240 and related requirements
  • Review of the key characteristics of fraud
  • Examination of required risk assessment procedures
  • Designing and performing audit procedures to address the risk of fraud
  • Evaluating audit evidence obtained and assess impact on planned audit procedures
  • Assessing the impact on the audit report and determining where modifications may be required
  • Documentation and communication requirements

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 audit files in order to help them meet their responsibilities related to fraud in an efficient and effective manner.

PRICING

$163.00 Personal Passport

$190.00 Organization Passport

$261.00 Member

$261.00 Student

$317.00 Public

Status: Registration open until Mar 06, 2023

LOCATION

Online

SPEAKER(S) BIO

Mark Grenon,CPA, CA•IFA, CFF, CFE is a forensic accounting specialist working with the Federal Government’s Forensic Accounting Management Group (“FAMG”). Since joining FAMG in 2003, Mark has been assigned to work with the RCMP, CBSA, DND, and other government departments providing expert witness reports and testimony on criminal cases involving money laundering, proceeds of crime, fraud, ponzi schemes, and bribery of foreign government officials. Mark obtained his Chartered Accountant designation in 2002, and prior to his career as a forensic accounting he worked with Ernst and Young’s bankruptcy, taxation and public accounting groups. Mark is a regular instructor at the Canadian Police College and has testified as a forensic accounting expert witness in the Ontario Court of Justice, the Ontario Superior Court, Immigration and Refugee Board, and the Quebec Courts.

SPECIAL INSTRUCTIONS

Participants should have some familiarity with the CPA Handbook – Assurance.

This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.

Electronic material can be accessed one week prior to the course at https://pdlms.cpaontario.ca/ and should be downloaded in advance.

Registration, cancellation, withdrawal and all other CPA Ontario PD Seminar policies can be found here.