Completed
Date

Thursday 3 May 2018

Time

12:00 pm

Duration

1.5 CDP hours

Session Topic

Managing your fraud risk as a preparer or auditor

Fraud is a common business and audit risk that needs to be managed. Many boards and management lack a basic understanding of prevention and detection controls that can significantly reduce it. Boards and management often rely on external auditors to detect risk, a misplaced strategy. Let’s look at how to manage the fraud risk. This session will:

  • Provide examples of recent frauds and discuss what can be learnt
  • Identify detection and prevention controls to mitigate fraud risk
  • Examine the external auditor’s role in fraud risk, and
  • Discuss how to effectively apply ASA 240 The Auditor’s Responsibilities Relating to Fraud in Audit of Financial Report to minimise audit risk.
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This session is presented by:

Colin Parker

Principal, GAAP Consulting, Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board. He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.