Vermont Society of Certified Public Accountants
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Surgent's Auditing A/P, Accrued Expenses, and Debt (Audit Skills Training - Level 2) (A2M5)

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Member Price: $54.00
Non-Member Price: $64.00

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Developer:
SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:
3.00
Field of Study:
Auditing
Level:
Basic
The completeness and proper classification of liabilities are the typical higher audit risks. The complexity of the debt financing arrangements may create a significant risk requiring special audit consideration. This module will discuss tips and techniques for auditing accounts payable, accrued expenses and common debt arrangements.

Objective

  • Discuss typical audit risks and special audit considerations
  • Tailor the audit plan in response to assessed risk of material misstatement
  • Evaluate results from a search for unrecorded liabilities
  • Assess the propriety of accrued estimates
  • Evaluate debt covenant compliance

Highlights

  • Typical audit procedures related to accounts payable and accrued expenses, including the search for unrecorded liabilities
  • Evaluating accrued estimates
  • Key controls related to liabilities
  • Auditing debt, including compliance with covenants
  • Determining the proper classification of debt
  • Proper form of noncompliance waiver letters
  • Impact of noncompliance on disclosures

Designed For

Accountants responsible for auditing accounts payable, accrued expenses and debt

Prerequisite

None

Advanced Preparation

None
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