This course will discuss the importance of evaluating materiality and risk, which will impact the auditor's planned audit evidence This course will also describe how to develop a preliminary judgment about materiality and consider the most appropriate risks for each engagement and review the eight steps involved in creating the audit plan. At the end of this course, students will be able to: -Identify the three types of fraud. -Identify the SAS that provides guidance to auditors in assessing the risk of fraud -Recognize the three elements identified by the AICPA to prevent, deter, and detect fraud. -Recognize who is responsible for identifying and measuring fraud risks and taking steps to mitigate identified risks. -Identify the procedures to address the risk of management overriding internal controls that are otherwise operating effectively. -Recognize the characteristics of different types of fraud. Field of Study: Auditing