Surgent's Auditing A/P, Accrued Expenses and Debt (Audit Skills Training - Level 2) (Self-Study)
Valid for one year from purchase date
Auditing - Technical (3.0)
Standard member fee
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to receive member fee.
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.
Who should take this program?
Accountants responsible for auditing accounts payable, accrued expenses and debt
Typical audit procedures related to accounts payable and accrued expenses, including the search for unrecorded liabilities
Evaluating accrued estimates
Key controls related to liabilities
Auditing debt, including compliance with covenants
Determining the proper classification of debt
Proper form of noncompliance waiver letters
Impact of noncompliance on disclosures
Discuss typical audit risks and special audit considerations
Tailor the audit plan in response to assessed risk of material misstatement
Evaluate results from a search for unrecorded liabilities
Assess the propriety of accrued estimates
Evaluate debt covenant compliance
NASBA ID#: 103212