In this course you'll learn the importance of understanding the accounting system related to purchases, payables, and accrued expenses - an understanding necessary to plan your procedures. Through an interactive case study, you'll practice the critical substantive test and be able to assess if your search for unrecorded liabilities is thorough enough to gain comfort that material unrecorded liabilities have been detected.
Learning Objectives
Match the audit procedures typically performed in the accounts payable and accrued expenses areas to the stated audit objectives and related assertions
Effectively review the accounting system and internal control over accounts payable
Properly perform a search for unrecorded liabilities
Avoid common audit inefficiencies and oversights when auditing accounts payable and accrued expenses
Key Topics
Understanding the accounts payable cycle
Proper cut-off and classification
Common accounts payable and accrued expenses audit procedures and techniques
Searching for unrecorded liabilities
Who will it benefit?
New Staff covers key areas to ensure auditors are well prepared to begin their careers. The Audit Staff Essentials Level I courses establish a strong set of core skills necessary for junior staff growth.
$ 85.00
AICPA Member Price: $ 69.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting and Auditing
Level
Basic
CPE Credits
2.0
Prerequisites
None
Delivery Method
QAS Self-Study
Advance Preparation
None
Last Updated
01/07/2022
JEHASE1_15G
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