Fraud & Going Concern
Presenters : Nestene Botha CA(SA)
Overview
It is evident that the control environments of many business entities have been negatively impacted by the current pandemic. It is also true that as a result of this pandemic, the nature of evidence collected by auditors is now different.
The two issues above raise concerns over the perpetration of fraud by companies as well as the difficulties faced by the auditor in determining going concern of clients' businesses.
The IAASB recently hosted three virtual roundtables during which issues and challenges related to fraud and going concern where tackled. All accounting professionals need to ensure that they are up to date with the latest challenges and developments being discussed by thought leaders and field experts.
Learning objectives
By the end of this webinar the attendee should:
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Understand that crucial parts of the accountant's and auditor's work have been affected by the current pandemic;
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Understand the impact of technology advancements on fraud perpetration and detection;
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Understand that there is an expectation gap w.r.t public perceptions and the auditor’s responsibilities for fraud and going concern; and
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Know how to deal with fraud and going concern in audits of less complex entities.
Content
The webinar will cover the following topics:
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Background.
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IAASB's roundtables - a summary.
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Fraud and how it's perpetrated.
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How tech advances have impacted fraud perpetration and detection.
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Auditor's responsibility for determining going concern.
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The expectation gap.
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Dealing with fraud and going concern issues.
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