There are five critical areas in an audit that pose the highest risk, known as presumed fraud risk areas and significant risks. These areas require specialised fraud procedures in addition to standard audit procedures. After reviewing numerous files, it's evident that auditors often struggle with identifying the specific fraud tests for these areas.

Additionally, inadequate design of sample sizes for addressing these specific types of risks is a recurring issue.

In response to this, I have pledged to develop a session focusing on these high-risk areas, which I often refer to as the "danger zone" in my courses. This session will provide detailed guidance, addressing the challenges auditors face when navigating these areas due to time constraints within the broader audit approach.

I am pleased to announce that I will be presenting this session on [insert date]. The workshop will cover the following key areas: revenue, journal testing, related parties, transactions outside the normal course of business, and estimates. By the end of the course, participants will gain clarity on the specific fraud procedures required and learn how to tailor their audit procedures and working papers accordingly.