Government auditing standards require auditors to consider the possibility of waste in a government entity when conducting a government audit. This must be considered in all phases of the audit, including planning and testing. This course is designed to familiarize the participants with risks and procedures for detecting waste in government entities.
Publication Date: February 2022
Designed For
CPAs, CMAs, CGMAs, internal auditors, CIAs, external auditors, managers, CFOs and others responsible for internal controls.
Topics Covered
- A Review of the Generally Accepted Auditing Standards
- Fraud Examples
- Government Audit Planning
- Requirements for considering waste in an audit plan
- Audit procedures for waste in a government entity
- Data Analysis Examples
- Reporting Waste
- Risks and procedures for detecting waste in government entities
- COVID-19 Audit Considerations
Learning Objectives
- Identify procedures for auditing for waste, including fraud
- Identify audit procedures for waste in a government entity
- Recognize which type of sampling gives all items an equal chance of being selected
- Recognize the correct formula for the audit risk model
- Identify increased risks for fraud related to the COVID-19 pandemic
- Describe what waste includes
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.