Surgent’s Auditing Contingencies and Going Concern (Audit Skills Training – Level 5) (A5M5) (SSAA34/19)

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Event Description

Financial statements may contain significant uncertainties requiring special audit consideration for evaluating proper treatment in accordance with generally accepted accounting principles and relevant auditing standards. This module provides tips and techniques for obtaining sufficient appropriate audit evidence to support conclusions.

Designed For

Accountants responsible for auditing contingencies and going concern uncertainties

Objectives

  • Describe accounting and auditing requirements for commitments and contingencies
  • Discuss litigation, claims and assessment special considerations
  • Explain the auditor’s responsibility for evaluating the appropriateness of going concern accounting and disclosure

Major Subjects

  • Overview of contingencies and related disclosures
  • Identifying and determining proper accounting treatment for litigation, claims and assessments
  • Evaluating the sufficiency of attorney’s letter responses for audit evidence
  • Evaluating substantial doubt about an entity’s ability to continue as a going concern for a reasonable period of time
  • Auditing managements assumptions in making the going concern evaluation
  • Proper application of the liquidation basis of accounting

Prerequisites

Experience on complex audit engagements

Instructions

When you purchase a Surgent CPE on-demand course, it must be taken by June 30, 2019, to receive credit.
Within 5 minutes after your purchase, you will receive an email from info@surgent.com that explains how to access your course and materials.
Once you complete a course, please allow up to 30 days to receive you certificate of completion.
If you have further questions, please email info@surgent.com or call 800.778-7436. Their help lines are staffed Monday-Friday from 8:30 am to 5 pm Eastern Time.