Define fraud and distinguish between fraudulent
financial reporting and misappropriation of assets.
Describe the fraud triangle and identify
conditions for fraud.
Understand the auditor’s responsibility for assessing
the risk of fraud and detecting material
misstatements due to fraud.
Identify corporate governance and other
control environment factors that reduce fraud risks.
Develop responses to identified fraud risks.
Recognize specific fraud risk areas and develop
procedures to detect fraud.
Understand interview techniques and other
activities after fraud is suspected.
Describe information about the fraud risk assessment
that must be documented in the working papers.
