Audit 108: Auditing PP&E and Leases - Common Risks WEBINAR
Overview
This course will address tips and techniques for auditing tangible long-lived assets for various assessed risk levels, with a special emphasis on lease accounting under Topic 842. Property, plant, and equipment can range from a low risk to a high-risk audit area, depending on the nature of transaction and events engaged in by the reporting entity. Construction, capitalized interest, and complex leasing arrangements tend to result in higher risk of material misstatement.
Highlights
Typical audit risks and responses for tangible long-lived assets. Special issues related to initial recognition and capitalization, including capitalized interest. Key controls related to PP&E. Lease accounting requirements and practical application of Topic 842.
Prerequisites
None.
Designed For
Accountants responsible for auditing property, plant and equipment, including leases.
Objectives
Identify typical audit risks and special audit considerations for tangible long-lived assets. Tailor a detailed audit plan to respond to assessed risk of material misstatement related to fixed assets and leases. Recall key controls related to property, plant, and equipment. Recognize and apply lease accounting requirements, including the impact of Topic 842 lease accounting standard changes on both lessees and lessors.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE, LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and presenting high-quality training programs in a wide variety of technical accounting, auditing, and “soft skills” topics needed for professional and organizational success. She is the principal author of audit and attest related courses for Surgent and a frequent speaker at Surgent live programs and seminars. Ms. Louis is also the president of Emergent Solutions Group, LLC, a company she founded in 2003, dedicated to developing and delivering a wide variety of accounting and auditing training services, including audit staff training, audit productivity improvement, and value-added auditing. Prior to that, she was executive vice president/director of training services at AuditWatch, Inc. Before joining AuditWatch, Ms. Louis was the financial/operational internal audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $109.00
Member Price $89.00