Auditing for Waste in a Government Entity
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
Government auditing standards require auditors to consider the possibility of waste in a government entity when conducting a government audit. Waste includes fraud, abuse, and waste of government resources. 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. We will review analytic and substantive procedures for detecting waste in government operations. We will review some of the steps governments have taken to reduce waste.
Publication Date: August 2025
Designed For
This course is appropriate for CPAs, CMAs, CGMAs, internal auditors, CIAs, external auditors, managers, CFOs and others responsible for internal controls.
Topics Covered
- A Review of the Auditing Standards
- Fraud Theories
- Auditors Responsibility for Finding Fraud in an Audit - New Proposed Standard
- Government Audit Planning
- Audit Procedures
- Reporting Waste
Learning Objectives
- Identify the requirements for considering waste in an audit plan
- Identify audit procedures for identifying waste in a government entity
- Identify government actions to reduce waste
- Identify the type of sampling that gives all items an equal chance of being selected
- Identify the correct formula for the audit risk model
- Identify the most common root cause for a cyberattack
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
