CAS 240 Fraud & Ethics - 2021

Course Price: $179.97

Number of PD hours: 3.0

Online - Recorded - Available

The objective of the course is to examine the requirements of CAS 240 fraud and ethics outlined in the Code of Professional Conduct (“COPC”). During the session, we will examine:

Fraud and assessing the risk of management override, as well as the use of professional skepticism and ethics are an integral part of all assurance engagements.

·         Key requirements of CAS 540;

·         The auditors’ responsibilities in relation to fraud;

·         Identifying and responding to the risk of fraud;

·         Fraud scenarios and case studies of how auditors failed to identify material frauds;

·         How to stand back and evaluate audit evidence; and

·         Assessing the risk of management override and bias.

The session will also review key requirements relating to independence and ethics as required by the COPC, specifically:

·         Why are ethics important?

·         Review public opinion on accountants and their objectivity;

·         Discuss importance of client ethics and integrity; and

·         Review examples of independence and ethical breaches.

The goal of the session is to assist teams with identifying, documenting and assessing potential fraud risks and designing appropriate audit responses to address management bias and the potential for management override. 


Marcus Guenther MBA, CPA, CA

Marcus Guenther works with corporations and accounting firms to improve their workflow, internal control and risk management practices, as well as assisting with technical accounting and auditing issues. He is the co-author of the CICA Professional Engagement Manual (CPEM) as well as other technical publications and articles and teaches accounting, IFRS, and auditing and assurance courses for numerous professional organizations.

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