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Professional Skepticism: Creating a Mindset for Finding Fraud and Error

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: May, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Key points about professional skepticism
    4 mins
  • Quality control measures for compliance
    15 mins
  • Important audit documentation point!
    27 mins
  • Circumstances that lead to auditor failure to appropriately comply
    49 mins
  • International standards on Auditing - Fraud defined
    69 mins
  • WorldCom fraudulent financial reporting
    85 mins

Course Description

The public places high-value assurance services provided by an external public accountant, as the CPA’s involvement directly enhances the degree of confidence intended users can place on the financial statements to make economic decisions. 

A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. Professional skepticism is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error. Meeting the requirement of applying professional skepticism during an audit is often quite a challenge. However, it is an expected skill the auditor must master if they want to produce valuable audits.

Professional skepticism is influenced by personal behavioral traits as well as the knowledge level of the individuals undertaking the audit. A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. It is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error.

Following are the major topics covered in this CPE webinar:

  • Understand the importance of professional skepticism.
  • Recognize specific fraud responsibilities in a financial statement audit.
  • Applying Professional Skepticism.
  • Auditors' Responsibility for Noncompliance.
  • Tips for Maintaining Professional Skepticism.

This CPE Auditing webinar will give you an overview of professional skepticism so that you can sharpen this necessary skill.

If you are interested in audit courses, you might be interested in following Jennifer Louis. She specializes in Accounting and Auditing training, and Audit process consulting. 

Learning Objectives

  • To discuss the traits of a skeptical auditor.
  • To explain how to apply professional skepticism to any assurance service.
  • To describe fraud, including examples of fraud indicators.
  • To discuss the auditor’s responsibility for identifying and responding to fraud in a financial statement audit.
  • To analyze tips for maintaining professional skepticism.

Recommended For

  • This Online CE/CPE Webinar is recommended for CPA, CIA, IAP, QIAL, CMA, CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CGAP, CFIRS, CWS, Internal Auditors, External Auditors, Accountants, Accounting and audit managers/practitioners, and other professionals interested in understanding everything about Professional Skepticism.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Forensic Auditor
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 3 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 3 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 3 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
  • 3 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 3 CPE Credit of Financial Statement Fraud Schemes for Certified Fraud Examiner (CFE)
  • 3 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 3 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 3 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 3 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 3 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 3 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 3 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 3 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 3 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 3 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    3
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) 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.

Presenter

About Presenter

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes : 

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

4.6

15 Ratings

Excellent

10

Very Good

4

Average

1

Poor

0

Terrible

0

BS

Brian Smith, CPA (US)

Jun 7th, 2022

I loved the corny jokes!

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