Government and Not-For-Profit Fraud Training - AU-C Section 240 Review 1 CPE

This course covers auditor responsibilities related to fraud and how these responsibilities have changed over the last 50 years starting with SAS Number 1 in 1972 on down to AU-C section 240, Consideration of Fraud in a Financial Statement Audit. 

The course discusses current audit requirements and also includes specific discussion regarding additional auditor requirements for those who audit government or not-for-profit entities. There is also a case discussion and situational analyses.

Prerequisites

• No advanced preparation or prerequisites are required for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Learning Objective

• Recognize how auditor responsibilities related to fraud in the financial statements has evolved over time.
• Identify the 10 steps AU-C section 240 provides as part of the current requirements for financial statement auditors 
• Identify the specific requirements related to government or not-for-profit audits with respect to fraud detection and reporting requirements

Last updated/reviewed: September 23, 2026