This course provides an overview of the responsibilities of entity management, those charged with governance, and employees for preventing fraud and detecting it when it happens. It discusses the definition of fraud, different models for considering fraud, and fraud risk factors. This course also presents research results on types of fraud against entities, including how they were detected, and describes the auditor's specific responsibilities for detecting fraud in a financial statement or compliance audit. This course can be used by governmental entities, nonprofit entities, and their auditors to understand the characteristics of fraud from different perspectives. AU-C Section 240 addresses the auditor's responsibilities relating to fraud in a GAAS audit of an entity's financial statements. It expands on how AU-C Section 315 and AU-C Section 330 are to be applied regarding risks of material misstatement due to fraud. This course also discusses the auditor's responsibilities for fraud in audits conducted in accordance with GAAS, GAGAS, and the Uniform Guidance.