Recognizing fraud risks in governmental and not-for-profit organizations
is often challenging due to the inherent nature of these organizations.
In addition to their public nature, these organizations may have limited
support staff or staff with limited accounting expertise which can
result in less than effective fraud prevention and detection programs
and/or increased opportunities for fraud. Using a combination of
examples, explanations of audit standards, and case studies, obtain an
understanding of the frauds most commonly perpetrated in government and
not-for-profit organizations and what prevention and detection
procedures are effective in responding to these fraud risks. This course
also discusses how auditors might address their responsibilities with
respect to fraud in a financial statement audit of governmental and
not-for-profit organizations. Topics Discussed: GAAS and GAGAS
standards related to the auditor’s responsibility with respect to fraud
in a financial audit. Recognize areas where fraud most likely occurs
in governmental and not-for-profit organizations. Fraud programs and
controls that may be effective in addressing fraud risks in governmental
and not-for-profit organizations.