20SS-0017: Surgent's Auditing A/P, Accrued Expenses, and Debt (Audit Skills Training - Level 2) (Self-Study)
Valid for one year from purchase date
Self-study - On-Demand
3 CPE (3 technical)
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The completeness and proper classification of liabilities are the typical higher audit risks. The complexity of the debt financing arrangements may create a significant risk requiring special audit consideration. This module will discuss tips and techniques for auditing accounts payable, accrued expenses and common debt arrangements.
Major subjects
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Typical audit procedures related to accounts payable and accrued expenses, including the search for unrecorded liabilities
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Evaluating accrued estimates
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Key controls related to liabilities
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Auditing debt, including compliance with covenants
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Determining the proper classification of debt
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Proper form of noncompliance waiver letters
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Impact of noncompliance on disclosures
Learning objective(s)
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Discuss typical audit risks and special audit considerations
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Tailor the audit plan in response to assessed risk of material misstatement
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Evaluate results from a search for unrecorded liabilities
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Assess the propriety of accrued estimates
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Evaluate debt covenant compliance
Who should take this program?
Accountants responsible for auditing accounts payable, accrued expenses and debt
Fees
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