Identifying Audit Risks - Financial Reporting and Revenue Recognition ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This course explores common red flags found in financial reporting and revenue recognition that auditors should watch for during an audit. Key topics include identifying unusual patterns in financial statements, such as irregular revenue or expense recognition, discrepancies in accounts, and indicators of financial manipulation. The course also covers red flags in revenue recognition practices, focusing on the application of ASC 606 and the warning signs that suggest improper revenue reporting. This course emphasizes how auditors can detect financial misstatements early and respond effectively.
Highlights
Identifying audit risks - financial reporting and revenue recognition. Financial statement irregularities. Key financial ratios and benchmarks. Unusual accounting practices. Financial statement warning signs. Using analytics and trend analysis. Revenue recognition red flags. Common methods of fraudulent revenue recognition. Unusual patterns in customer relationships and sales. Detecting improper revenue recognition.
Prerequisites
None.
Designed For
Auditors, CPAs, CEOs, and other accounting professionals.
Objectives
Identify red flags in financial statements that suggest potential misstatements or fraud. Recognize common issues in revenue recognition practices that could indicate improper reporting. Distinguish between normal financial reporting practices and warning signs of manipulation.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $67.00
Member Price $58.00