Audit 203: Auditing Accounts Receivable - Common Risks

Auditing Accounts Receivable - Focusing Procedures for Testing Existence and Valuation will explain tips and best practice techniques for auditing common accounts receivable risks, primarily focusing on existence and valuation. Accounts receivable tends to carry higher risk of material misstatement due to the complexity and subjectivity involved with initial recognition, subsequent measurement, and valuation. In addition, revenue recognition is presumed to be a significant fraud risk. Note:
This course is recommended as a part of a 16-hour audit skills curriculum for experienced staff auditors, while it is also appropriate for anyone who has responsibilities for auditing accounts receivable. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

The major topics covered in this course include:

• Typical risks of material misstatement related to accounts receivable
• Practice tailoring the detailed audit plan to the assessed risk of material misstatement
• Overview of more complex issues, such as methods for converting accounts receivable to cash
• External confirmation audit considerations, including evaluating responses for propriety
• Evaluating the valuation of accounts receivable

Who will benefit:

Accountants with responsibilities for auditing accounts receivable

This webcast is hosted on CPA Crossing platform. Attendees will receive instructions on how to attend the webcast via e-mail.