Audit Red Flags: Navigating Financial, Behavioral, and Control Risks in Auditing ON DEMAND

Overview

This course covers the key red flags auditors should watch for during audits. It explores risks in financial reporting, revenue recognition, internal controls, and compliance. The course helps auditors identify warning signs of potential fraud, misstatements, and issues like weak internal controls or suspicious audit evidence. It also addresses red flags in management behavior, cybersecurity, and going-concern evaluations.

Highlights

Red flags in financial and revenue reporting. Financial statement irregularities. Key financial ratios and benchmarks. Unusual accounting practices. Using analytics and trend analysis. Revenue recognition red flags, and more.

Prerequisites

None.

Designed For

Auditors, CEOs, CFPs, and other accounting professionals.

Objectives

Identify red flags in financial statements that suggest potential misstatements or fraud. Recognize common issues in revenue recognition practices that could indicate improper reporting. Distinguish between normal financial reporting practices and warning signs of manipulation. Recognize behavioral red flags that may indicate fraudulent or unethical conduct. Identify management-related risks in estimates and representations that could affect audit outcomes. Determine when changes in management behavior require further investigation. Identify weaknesses in internal controls that may expose the organization to risk. Select the appropriate response when suspicious or incomplete audit evidence is found, and more.

Preparation

None.

Notice

None.