During this interactive game, participants take the role of an auditor performing a physical inventory observation at a client's warehouse. Participants will have the opportunity to use their powers of observation and exercise professional skepticism...
2021 will be a very impactful year for audits, as SASs 134-140 become effective for audits for year-ends after December 15, 2021. In this course, we'll review the key changes coming to financial statement audits as a result of these new standards, in...
Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a comprehensive review of recent standard setting activities of the FASB and AICPA. In addition to providing...
Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a comprehensive review of recent standard setting activities of the FASB and AICPA. In addition to providing...
Designed for all tax practitioners, including those who just prepare returns and those who assist on financial statement engagements, this course will replenish your accounting and reporting tank with an update of recent standard-setting activities a...
Designed for all tax practitioners, including those who just prepare returns and those who assist on financial statement engagements, this course will replenish your accounting and reporting tank with an update of recent standard-setting activities a...
Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides an overview of recent FASB and AICPA activity, including recently issued and proposed Accounting Standards U...
Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides an overview of recent FASB and AICPA activity, including recently issued and proposed Accounting Standards U...
Regulators, investors, other capital markets stakeholders and users of the financial statements need accurate and transparent financial information for decision making. One reason that why the capital markets are as efficient as they are today, is th...
ASC 326 significantly changes the accounting for credit losses. Given its pervasive scope, virtually every company will need to at least assess the impact of the new ASC 326 guidance and potentially record a material adjustment to implement the new a...
During the audit of the financial statements, an auditor will obtain evidence from many sources to support the account balances, transactions, and events that occurred during the period, as well as the financial statement disclosures. This course dis...
As a byproduct of the audit, the auditor has a responsibility to communicate certain information to management and those charged with governance, primarily related to risk and internal control deficiencies. In some cases the auditor may be required t...
During a financial statement audit the auditor obtains an understanding of the entity and its environment (including its internal control), performs a risk assessment and from that work designs substantive procedures that will be responsive to the le...
The information technology component of the COSO Framework's Information and Communication element is a very important part of an entity's business processes. Controls over information technology (IT) are effective when they maintain the integrity of...
For all the work performed on the audit, the one thing that the public sees is the auditor's report. So we need to make sure that the opinion is correct. With the effective date of SAS 134, the auditor's report underwent significant changes. This ses...
As you advance in your audit careers, your responsibilities include auditing more subjective areas, such as accounting estimate. These estimates are pervasive across a set of financial statements and are often very sensitive to relatively small chang...
Engagement quality is the ultimate benchmark that auditors should be judged against. As a senior associate, you have primary responsibility for ensuring that all engagement work is performed on time, within budget, and in accordance with professional...
As companies look for greater investment returns in the current low interest rate environment, they are often investing in more risky types of investments, such as cryptocurrency. Further, as they look to hedge business risks, companies are frequentl...
Accounting for and auditing leases was always a challenging task. Adding the implementation of the lease accounting guidance in ASC 842, Leases, will undoubtedly add that much more complexity to this audit area.In this module, we will review the new ...
Revenue is often one of the largest and most significant line items in a company's financial statements. It is also the line item that is most susceptible to fraud. Further, all companies reporting under U.S. GAAP have either recently completed or ar...
Audit documentation provides the principal support for the independent auditor's report. Therefore, it is important that workpapers meet professional standards. Anything less could result in peer or regulatory review deficiencies at as a worse case, ...
Many entities have inventory on their books. The types of inventory can range from simple resale of goods purchased to more complex inventories that use process costing. This module will discuss accounting for and auditing less complex inventories an...
The risk assessment process requires the auditor to understand internal controls over financial reporting and report deficiencies to management and those charged with governance as defined by professional standards. Auditors may be also required or d...
In these rapidly changing times, an entity may experience significant uncertainties. This is especially true at this time due to issues entities have experienced as a result of the pandemic declared in March 2020 which are still ongoing for many. N...
Analytical review procedures are performed in the preliminary and final stages of the audit. Auditors may also choose to perform analytical procedures as substantive tests. It is important to properly design and perform the procedures to ensure an e...
Most CPA firms perform some level of compilation and review engagements. And some perform engagements under attestation standards. Building off what you learned in the training in Level 1, Module 4, this course offers builds provides a deeper dive ...
The ultimate objective of a financial statement audit is to issue the independent auditor's report. This module discusses the process, introduces key elements of financial statements, and provides best practices for auditors who either prepare or rev...
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 a...