Overview
When not-for-profit entities and governments fall prey to fraud and abuse, it breaks the hearts of donors and taxpayers. Fraud and abuse also causes donors and taxpayers to lose confidence in those not-for-profit entities and governments. In this course, we will focus on the common types of fraud and abuse that occur in not-for-profit entities and governments and also address the auditor’s responsibilities related to fraud and abuse. The course materials utilize a highly illustrative and innovative format. Over 30 focused exercises are included to provide an enhanced knowledge of fraud and abuse in not-for-profit entities and governments.
Major Topics:
- The current GAAS requirements related to fraud found in AU Section 240, Consideration of Fraud in a Financial Statement Audit
- The Yellow Book requirements related to fraud, waste and abuse
- Common conditions that indicate the financial statements may contain a material misstatement from fraud and fraud risk factors frequently observed in not-for-profit entities and governments
- Recent frauds that occurred in not-for-profit entities involving the theft of cash; falsified billings; improper use of credit cards; the redirection of cash and non-cash contributions; conversion of assets; the redirection of benefits; grant-related fraud; and travel and expense reporting fraud
- Recent frauds that occurred in governments involving: falsified applications for benefits; payroll fraud; vendor fraud; kickbacks; workers’ compensation and risk management frauds; purchase card abuse; providing government services for personal benefit; misappropriation of utility payments; and theft of assets
- Tools for fraud prevention and detection
Learning Objectives
- Confidently and efficiently comply with the GAAS and Yellow Book requirements related to fraud
- Improve your awareness of real-world frauds occurring in not-for-profit entities and governments
- Implement useful fraud prevention tools
- Perceive how real-world frauds were actually discovered
Designed for:
Auditors of not-for-profit entities and governments and industry professionals interested in preventing fraud
Prerequisite:
Basic knowledge of the not-for-profit and government environment
Advanced Preparation:
None