Fraud is constantly in the news. Whether it's employee retention credit mills, FTX, or the City of Dixon, it appears like fraud is everywhere. We'll start this session with a review of the common fraud schemes as identified in the 2024 Report to the Nations. We'll also review the commonalities of fraudsters. We'll then look at methods of prevention. We'll close by looking at the auditor's responsibility for the consideration of fraud in AU-C 240. 

Agenda:

• Fraud Update (pg5)
• Fraud Cases (pg93)
• What is Financial Statement Fraud? (pg105)
• AU-C 240 Consideration of Fraud (pg128)