This video uses a case study of embezzlement and financial statement fraud at a small public company to demonstrate the importance of internal controls, management oversight by the board of directors and an organizational emphasis on ethics in the prevention of fraud. It also examines the CPA auditor’s responsibility for internal controls and the prevention and detection of fraud as part of its work. The company that the case study utilizes is Koss Corporation.
Course Publication Date:
June 22, 2020
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$10.00!
| Author: | Mill Creek Publishing |
| Course No: | AUD-FRAUDG-2970 |
| Recommended CPE: | 1.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Basic |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Auditing
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Learning Objectives
- Recognize the SEC rules regarding smaller reporting entities
- Recognize the auditor responsibility for client internal controls
- Identify the Koss Corp. embezzlement and financial statement fraud with inadequate internal controls