NAA2508. Navigating the Evolving Landscape of Fraud Risk: Insights from the ASB's Exposure Draft

This crucial session dives into the Auditing Standards Board's (ASB) significant fraud project, providing practitioners and auditors with a practical understanding of the proposed changes and their potential effect on the audit. We'll go beyond a simple update to explore the proposed key shifts in fraud risk assessment, identification, and response, equipping you to reflect on how these changes could potentially affect your audit methodologies. The comment period is still open if you want to provide your views to the ASB.

Learning Objectives:

• Analyze the key proposals within the Auditing Standards Board's current fraud exposure draft and their possible implications for audit practice.
• Evaluate how the proposed changes may affect risk assessment procedures and documentation requirements.
• Locate and utilize essential resources available to consider the proposed fraud standard and how it might affect your audits. Consider commenting before the comment period ends.