Detecting Financial Statement Fraud - Asset, Equity, and Reporting Mismanagement
Author: Kelen Camehl
| CPE Credit: |
2 hours for CPAs |
This course covers fraudulent activities involving asset and equity mismanagement, as well as deceptive reporting practices. It highlights how companies may misstate asset values, manipulate equity, and misreport financial disclosures to mislead stakeholders. By learning to recognize these schemes, auditors can enhance their ability to detect fraud and ensure greater transparency and trust in financial statements.
Publication Date: March 2025
Topics Covered
- Asset and Equity Mismanagement
- Disclosure and Reporting Fraud
Learning Objectives
- Identify fraud schemes that involve overstating assets and manipulating equity
- Recognize fraud indicators related to depreciation, amortization, and stock option accounting
- Recognize how to differentiate between legitimate and fraudulent related party transactions
- Identify indicators of misleading disclosures and misreporting of foreign currency transactions
- Recognize red flags indicating failure to disclose contingent liabilities
- Recognize how to distinguish between legitimate and fraudulent consolidation practices
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
