Surgent’s A Guide to Auditing Common Investments (SSAA711/24)
Many small- and mid-size entities hold fewer complex investments including alternative investments. This module will provide an overview for evaluating the proper recognition, measurement, and disclosure of common investment types as well as how to audit them. Derivatives and other more complex investments will be discussed in another module. (Please Note: This module is part of Surgent’s Audit Skills Training: Level 2.)
Accountants responsible for accounting for or auditing fewer complex investments, including alternative investments.
Identify the proper accounting for common investments Explain audit risks associated with auditing common investments Discuss how to tailor the audit plan to assessed risks of material misstatement Explain fair value and other presentation and disclosure requirements
Overview of common investment types Typical audit risks and related audit procedures Alternative Investments Fair value disclosure, including applying the fair value hierarchy