Audit Fraud Detection: Red Flags and Risk Areas in Financial Reporting - 2025 (Text Based)

This course equips auditors with the knowledge to identify key red flags and potential fraud in financial reporting. It explores risks related to revenue recognition, internal controls, and compliance, helping auditors spot warning signs of misstatements, weak controls, and suspicious audit evidence. The course also covers various forms of financial fraud, including tactics used to inflate revenue, understate liabilities, mismanage assets, and misreport disclosures. 

Learning Objectives:

1. Identify common red flags and warning signs of potential fraud in financial reporting.
2. Evaluate risks related to revenue recognition, internal controls, and compliance during an audit.
3. Recognize common tactics used to manipulate financial statements, including inflated revenue, understated liabilities, and misleading disclosures.

Instructional Method: Self-Study

Review Date: 05/16/2025

Required Components: Written Materials

CPE Final Exam Required Passage Grade: 70%

Please Note: This course must be completed within 1 year of the date of receipt of this course for CPE Credit

Prerequisites: None

Level: Basic

NASBA Category: Auditing

Recommended CPE: 8

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FurtherEd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.