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Understanding Fraud Risks: Auditing During the Pandemic
Audit & Assurance

Understanding Fraud Risks: Auditing During the Pandemic

COVID-19 presents a veritable “perfect storm” for fraud, and auditors should be on high alert. During this webcast, you'll learn what fraud risks have been heightened by the pandemic and how to address them.

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Included in Webcast Pass



NASBA Field of Study




CPE Credits



Jennifer Burns, Jonathan T. Marks, Carl R. Mayes Jr.


3 months

Product Number


 Business & partner 
Product Details

Auditors are on high alert

With mass layoffs, going concern issues and internal control deficiencies, the incentive and opportunity to commit fraud is present in many entities.

During this webcast, you'll learn:

  • Management’s responsibilities relative to fraud prevention and detection
  • The auditor’s responsibilities and planning considerations around fraud during their financial statement engagement
  • The auditor’s responsibilities when responding to fraud risks and what to do if fraud is detected
  • Fraud risks factors that are heightened and other audit areas to focus on as a result of the pandemic

Key Topics

  • Background, purpose and main provisions of the fraud risk standard
  • Common auditor missteps when applying AU-C Section 240
  • Auditors’ responsibilities relative to identifying and responding to fraud risks
  • Maintaining professional skepticism
  • Potential fraud risks factors present as a result of the pandemic
  • Procedures to respond to fraud risks
  • Responsibilities when addressing possible instances of fraud

Learning Outcomes

  • Identify areas of heightened fraud risk in the business environment impacted by the pandemic
  • Identify common challenges auditors encounter with respect to AU-C Section 240, Consideration of Fraud in a Financial Statement Audit
  • Determine audit planning considerations in accordance with AU-C Section 240
  • Identify the auditor’s responsibilities and procedures when responding to fraud risks
  • Identify procedures to address possible instances of fraud

Who Will Benefit

  • Auditors of private companies
  • Accountants and finance professionals
More Details
NASBA Field of Study
Experience performing audit engagements
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
2 hrs
Do you have an AICPA membership? Log in to apply your member discount.

Group ordering for your team

2 to 5 registrants

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6+ registrants

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Contact us
Jennifer Burns
Jennifer Burns, CPA is the Chief Auditor at the Association of International Certified Professional Accountants. Jennifer serves as the Association’s leading expert on U.S. and international auditing and attestation standards and leads its professional standards team in the delivery of high-quality innovative audit, attest, quality control, review, compilation, and preparation standards. Jennifer provides strategic direction to the AICPA U.S. Auditing Standards Board (ASB) and the U.S. Accounting and Review Services Committee (ARSC), in partnership with their chairs. She works with the ASB in identifying and developing innovative and transformational standards that encourage the use of technology in the audit and in visioning how the audit might change as technology advances. Prior to joining the AICPA in January 2021, Jennifer was a partner in the national office for Deloitte & Touche LLP where she focused on regulatory, standard-setting and quality matters impacting the performance of audits. In this role, she regularly interacted with standard-setting and regulatory entities including the PCAOB, SEC, IAASB and COSO, representing the views of the firm. Most recently she applied her passion and expertise for audit innovation to oversee the development of tools and methodologies that facilitated the delivery of audit and attestation services. She transformed the firm’s and profession’s approaches to emerging areas of assurance and developed guidance and thought leadership on other critical issues, including internal control, third-party assessments, sustainability, blockchain and artificial intelligence. From 2004-2006, Jennifer served as a professional accounting fellow in the SEC’s Office of the Chief Accountant where she focused on professional practice matters, including issues related to the implementation of the Sarbanes-Oxley Act of 2002. Jennifer graduated cum laude from Claremont McKenna College in Claremont, CA and is a CPA in California and Nevada.
Jonathan T. Marks
CPA, CFF, CITP, CGMA, CFE and NACD Board Fellow
Jonathan has more than 30 years of experience working closely with his clients, their board, senior management, and law firms on global fraud and misconduct investigations, including bribery, corruption, compliance and other matters. He specializes in internal and regulatory investigations, governance matters, risk assessments, design, and implementation of compliance programs, global fraud risk management programs, compliance coordination, and monitoring services for the private, public, and not-for-profit sectors. Jonathan assists his clients in mitigating potential issues by conduction root-cause analysis, developing remedial procedures, and designing or enhancing governance and compliance systems along with internal controls, policies and procedures and customized training. Jonathan has led high-profile financial, accounting, compliance and regulatory investigations worldwide relating to allegations of accounting irregularities, improper financial disclosures, fraud, non-compliance, bribery, corruption, kickbacks, money laundering, terrorist financing, cyber incidents, and whistleblower matters. Jonathan has provided expert testimony on accounting, damages/lost profits, financial and internal control issues in commercial litigation matters. He has appeared before the United States Securities and Exchange Commission (SEC), Financial Industry Regulation Authority (FINRA), and the United States Department of Justice (DOJ) to present his findings. Jonathan has also led global compliance initiatives, fraud risk or vulnerability assessments, internal audits, third-party risk management initiatives, and due diligence teams.
Carl R. Mayes Jr.
Carl Mayes is the Associate Director of CPA Quality and Evolution. He is the project lead for the AICPA’s Enhancing Audit Quality (EAQ) initiative and manages the CPA Evolution effort. Before working on the EAQ initiative, Carl served on the AICPA Peer Review team and helped develop the AICPA Not-for-Profit Section. Carl is a licensed CPA in North Carolina and worked as an auditor for regional and local public accounting firms before joining the AICPA.

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