This program uses a question and answer format to discuss real practice questions that have been raised by Loscalzo clients. Take a deeper dive into issues where preparers and auditors continue to have questions, and discuss risk assessment implementation issues, efficiency issues for smaller clients, sampling, and more.
DESIGNED FOR
Those in public practice and industry.
BENEFITS
- Recognize frequently encountered issues with GAAP financial reporting
- Learn proper GAAP application
- Efficiently apply auditing literature to a variety of troublesome issues
HIGHLIGHTS
- Cash and cash equivalents
- Purchase/supply commitments
- Capitalized costs
- Fair value
- Investments in closely-held entities
- Consolidation issues
- Debt costs
- Asset retirement obligations
- Equity transactions
- Current revenue recognition
- Audit risk
- Inherent risk and its role in combined risk
- Monitoring
- Key controls
- When testing controls makes sense and when it doesn’t
- Difference between the assessment of risk and the identification of significant risks
- Linkage
- Report on internal control (significant deficiencies and material weaknesses)
- Using a service organization auditor’s report (SSAE 18)
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- Qualifies for Yellow Book.