Fraud Considerations in Audits (8 hours, 4 hours/day)

Objectives

Understand government auditing standards that relate to fraud in the public sector.

Learn about potential fraud opportunities in government

Learn tools to incorporate fraud risk, fraud detection, and reporting requirements in your audit process.

Short Description

Relying on real life examples from government audits, this course provides a practical approach on how to incorporate fraud risk into the planning, fieldwork, and reporting stages of your audit. Attendees will learn about various fraud schemes in government as well as what the standards require and steps to take to ensure their audits comply.  

Course Outline

Day 1

Overview

What the Standards say about considering fraud

Definition(s) of fraud

Examples of fraud in government

Overview of fraud consideration in the stages of an audit

Case Study: Fraud consideration in an audit (e.g. code compliance)  

In depth: fraud consideration in audit planning

        Collecting information about potential fraud

        Fraud questions in interviews  

        Fraud brainstorming

Exercise 1: fraud brainstorming for an inventory audit

Day 2

What the Standards say about fraud detection

In depth: Fraud consideration in the audit risk assessment

Exercise 2: what will you audit?

In depth: Fraud tests for fieldwork

        Exercise 3: Determine detection/control tests

What the Standards say about fraud reporting

        In depth: Reporting related to potential and/or identified fraud

        Exercise 4: Fraud steps for a contract management audit

Additional resources related to fraud consideration

        Wrap up