Accounts receivable tends to carry higher risk of material misstatement due to the complexity and subjectivity involved with recognition, measure and valuation. In addition, revenue recognition is presumed to be a significant fraud risk. This module will explain tips and techniques for auditing common accounts receivable risks.
DESIGNED FOR
Accountants with responsibilities for auditing accounts receivable
BENEFITS
- Discuss typical audit risks and special audit considerations
- Explain how to tailor a detailed audit plan to audit risk
- Evaluate confirmation responses for propriety
- Evaluate allowance for doubtful accounts for proper valuation
HIGHLIGHTS
- Typical risks of material misstatement
- Practice tailoring the detailed audit plan
- Converting accounts receivable to cash
- External confirmation audit considerations, including evaluating responses for propriety
- Evaluating the valuation of accounts receivable
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None