Auditing for Waste in a Government Entity

Author: Robert K Minniti

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