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Auditing Accounts Receivable - Focusing Procedures for Testing Existence and Valuation ON DEMAND

Available Until

Your Desk

2.0 Credits

Member Price $58.00

Non-Member Price $67.00

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Overview

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. This audit CPE course will explain tips and best practice techniques for auditing common accounts receivable risks, primarily focusing on existence and valuation. Participants of this auditing CPE will learn how to create an audit plan, as well as evaluate confirmation responses and allowance for doubtful accounts.

Highlights

Procedures for testing existence and valuation.

Prerequisites

None.

Designed For

CPAs.

Objectives

Identify typical audit risks and special audit considerations related to accounts receivable. Explain how to tailor a detailed audit plan to assessed risk of material misstatement. Evaluate external confirmation responses for propriety. Evaluate allowance for doubtful accounts for proper valuation.

Preparation

None.

Notice

None.

Leader(s):

Leader Bios

Jennifer Louis, Surgent McCoy CPE LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and presenting high-quality training programs in a wide variety of technical accounting, auditing, and “soft skills” topics needed for professional and organizational success. She is the principal author of audit and attest related courses for Surgent and a frequent speaker at Surgent live programs and seminars. Ms. Louis is also the president of Emergent Solutions Group, LLC, a company she founded in 2003, dedicated to developing and delivering a wide variety of accounting and auditing training services, including audit staff training, audit productivity improvement, and value-added auditing. Prior to that, she was executive vice president/director of training services at AuditWatch, Inc. Before joining AuditWatch, Ms. Louis was the financial/operational internal audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.

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Non-Member Price $67.00

Member Price $58.00