2024 Was It Fraud or Just Poor Audit Quality?

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  • Location
    • Your Computer
      Your Space
      ISCPA / ACPEN Webinar, ID 00000
  • Credits
    • 1.00
  • Credit Type(s)
    • Behavioral Ethics (1.00)
  • Prerequisites
    • None

  • Vendor
    • ACPEN
  • Level
    • Basic
  • Fields of Study
    • Ethics
  • Message
    • Virtual Experience

Description

This session describes a state agency's quality review of a not-for-profit organization's A-133 Single Audit.  The case study describes the organization audited, its federally- and state-funded programs, and the CPA firm retained to do the audit.  Various anomalies in the financial statements alerted state officials to potential problems, and a detailed quality review followed.  Find out how the entity turned hundreds of thousands of dollars in bank overdrafts into hundreds of thousands of dollars of cash on its balance sheet.  Explore other “creative” ways to deal with fixed assets, accounts receivable, and related-party transactions.  Were the auditors just sloppy, ignorant, negligent?  Or were they active participants in producing fraudulent financial statements?  You be the judge.



  • Presented by Robin Rohmer

    • Delivery Format: Live Webcast Replay

    Designed For

    Accountants and auditors at all levels

    Objectives

    • How easily financial statements can be manipulated
    • How checklist auditing is dangerous
    • Consequences for poor or negligent audit work
    • The importance of auditor objectivity and independence

    Highlights

    • Financial statement manipulation
    • Ethics enforcement process
    • Auditor conflicts of interest

    Advanced Prep

    None

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    Leaders

    ACPEN Panel

    No Biography Available

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