This webinar will discuss the key standards and considerations related to preparing and reviewing financial statements and disclosures. Auditors and auditees will benefit from the depth and practical applications Allison will cover and look at how the work of CPAs will change during and after the coronavirus outbreak.
COVID-19 impact on the economy, businesses, financial statements and audit engagements. Financial statement implications, including revenue recognition challenges, lease accounting and modification, debt and related issues, CECL for non-financial service companies, equity investments and more. Evaluating going concern analysis, liquidation of basis accounting, subsequent events, and more.
General knowledge of auditing.
CPAs in public practice and members in industry.
Recognize factors where there can be financial statement implications including inventory valuation, accounts receivable and collectability, ASC 606, valuation of assets, change in accounting estimates, debt covenant violations, etc. Identify red flags with respect to going concern evaluations and analyze effects of the outbreak. Use liquidation basis of accounting when liquidation is imminent. Identify subsequent events and determine if disclosures are required. Determine the impact on audit engagements pertaining to the nature of the engagement, deadlines, appropriateness of financial reporting framework, risk assessment, fraud risk considerations and additional challenges due to remote work environment.
- Allison Henry
Non-Member Price $99.00
Member Price $79.00