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Chapter 2

Fraud & The Auditor

SA 240 — Responsibilities Relating to Fraud in an Audit

Weightage
10%
Topics
1
Concepts
6
Est. Time
47 min

The Fraud Triangle

Three elements almost always present when fraud occurs

I
Incentive / Pressure
O
Perceived Opportunity
R
Rationalization

Topics in this Chapter

SA 240 — The Fraud Standard
Understanding fraud, the fraud triangle, and auditor responsibilities
6 concepts•47 min•450 XP
1
Introduction & Fraud Defined
5 min50 XP
2
The Fraud Triangle
8 min80 XP
3
Fraudulent Financial Reporting
8 min80 XP
4
Misappropriation of Assets
8 min80 XP
5
Auditor Responsibilities
8 min80 XP
6
Fraud Risk Factors
10 min80 XPVideo
Take Chapter 2 Practice Test