This course focuses on red flags related to internal controls and audit evidence. This course covers weaknesses in internal controls that could indicate potential financial mismanagement, fraud, or operational inefficiencies, such as inadequate segregation of duties, lack of oversight, or unexplained adjustments. It also examines how auditors can detect suspicious audit evidence, including inconsistent or incomplete documentation, and what steps to take when such evidence is found. This course provides auditors with practical tools to strengthen their audit approach and ensure the integrity of their findings.

The other Segments of this series Identifying Audit Risks are:

  1. Identifying Audit Risks - Financial Reporting and Revenue Recognition (Text Based Course)
  2. Identifying Audit Risks - Behavioral and Management Cues (Text Based Course)
  3. Identifying Audit Risks - Internal Controls and Audit Evidence (Text Based Course)
  4. Identifying Audit Risks - Compliance and Going-Concern Issues (Text Based Course)
Learning Objectives
  • Identify weaknesses in internal controls that may expose the organization to risk.
  • Explore and select the appropriate response when suspicious or incomplete audit evidence is found.
  • Discover and distinguish between valid and questionable audit evidence during the audit process.
Last updated/reviewed: January 17 2025
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
COURSE MATERIAL
  Identifying Audit Risks - Internal Controls and Audit Evidence (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam