Auditing revenue recognition is one of the most important aspects of an audit engagement. Understanding generally accepted accounting principles, how misstatements of revenue can occur, and how to design audit responses is essential for an effective and efficient process. Additionally, the risks of management overriding controls and misstatement of revenues are among the most significant fraud risk factors. In this course, you’ll learn how the auditor begins consideration of these fraud risks - and other risks of misstatement due to error - during engagement planning, utilizing an increased level of professional skepticism throughout the audit to detect further misstatements.
Auditing Revenue Recognition. CPA Practice Aids. CPA Firm Practice Aids.
CPAs, controllers, accountants, financing professionals, business owners, and managers.
Recognize the basic principles and methods of revenue recognition. Recognize the basic procedures for auditing revenues. Recognize the impact of audit strategies on revenue auditing procedures. Identify standards requirements, the mix of evidence, and the design of tests of balances auditing procedures for revenues.
Larry Perry, AICPA In-House Training
With 40 years’ experience as a CPA, Larry is a nationally-known author of accounting and auditing manuals, a professional continuing education instructor and author, and a consultant to CPA firms. Larry practices in Colorado Springs, Colorado and has served primarily small business, religious and small non-profit organizations and other nonprofit organizations. Larry is co-founder of CPA Firm Support Services, LLC, an organization dedicated to meeting the needs of small to medium-size CPA firms. He is currently developing audit guides and practice aids for use on very small audits that comply with the risk assessment standards and, at the same time, create efficiencies by reducing the volume of forms, checklists and working papers.
Non-Member Price $33.00
Member Price $29.00