“If you see fraud and do not say fraud, you are a fraud” What exactly is the responsibility of an auditor towards fraud, and how do we ensure that we discharge this responsibility? With expectations from the public ever increasing, it is important that auditors understand their responsibility to protect the pubic interest and respond to fraud. This course explains the auditor’s responsibility towards fraud in an audit engagement and independent review. This course focuses on the auditor’s responsibility towards detecting fraud and the reporting requirements when fraud is suspected or detected. The course includes the auditor’s responsibility in terms of the ISA’s as well as the responsibility in terms of the auditing professions act with regards to reportable irregularities

• What constitutes Fraud • Types and examples of fraud • Fraud risk triangle • The auditor’s responsibilities relating to fraud • Obtaining an understanding of the entity and the fraud risk factors to plan the audit • Fraud risk assessment including presumed fraud risks • Considering laws and regulations • Responding to fraud risks • Reporting requirements relating to fraud • Communicating with those charged with governance

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