Audit Red Flags: Navigating Financial, Behavioral, and Control Risks in Auditing
SKU: 02-285-01-CPE
Credit Hours: 4
Category: Auditing
Prerequisites: None
Learning Level: Overview
Delivery Method: Online PDF
Instructor: Kelen F. Camehl, CPA, MBA
Course Description:
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.
Upon completion of this course, you should be able to:
- 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
- Distinguish between valid and questionable audit evidence during the audit process
- Recognize red flags in compliance audits that suggest potential violations or regulatory risks
- Identify cybersecurity risks and indicators of inadequate protection measures
- Determine when going concern issues require further assessment or disclosure