Complete Guide to the CITP Body of Knowledge

TABLE OF CONTENTS

RISK ASSESSMENTDimension 1

1.0 INTRODUCTION

1.1 TYPES OF RISK ASSESSMENT

1.1.1 Risk Assessment Life Cycle Methodology

1.1.2 Enterprise Risk Assessment

1.1.3 Financial Statement Risk Assessment

1.1.4 IT Risk Assessment

1.1.5 Security Risk Assessment (audits)

1.2 UNDERSTANDING BUSINESS ENVIRONMENT AND BUSINESS PROCESSES

1.2.1 Executive Management Functions

1.2.2 Complexity of Business Entities

1.2.3 Automated Bu sin ess Pr ocesses

1.3 AUDIT RISK MODEL FOR FINANCIAL REPORTING

1.3.1 Assessing Inherent Risk

1.3.2 Assessing Control Risk

1.3.3 Risk of Material Misstatement

1.4 DEVELOP A WALKTHROUGH PLAN

1.4.1 Determine Relevant Business Processes and Controls to Review

1.5 DRAFT RISK ASSESSMENT REPORT

1.5.1 Based on Evidence from Walkthroughs

1.5.2 Based on Other Applied Procedures

1.5.3 Usefulness of Best Practices

FRAUD CONSIDERATIONSDimension 2

2.0 INTRODUCTION

2.1 DESCRIPTION & CHARACTERISTICS OF FRAUD

2.1.1 Definition of Fraud

2.1.2 Fraud Tree

2.1.3 Fraud Triangle

2.1.4 Scope of Fraud

2.1.5 Profile of the Executive Perpetrator

2.2 SAS No. 99 & ASSESSING RMM DUE TO FRAUD

2.2.1 The Importance of Exercising Professional Skepticism

2.2.2 Fraud Risk Factors

2.2.3 Behavioral Red Flags of Executive Fraudsters

2.2.4 Management Override of Controls

2.2.5 The SAS No. 99 Process – Assessing the RMM Due to Fraud

2.3 PREVENTION & DETERRENCE

2.4 DETECTION & INVESTIGATION

2.4.1 Use of IT Skills in Fraud Investigations

2.4.2 Use of IT in Fraud Investigations

2.4.3 Regulatory Standards ...