CPE & Event Catalog

Red flags in financial and revenue reporting. Financial statement irregularities. Key financial ratios and benchmarks. Unusual accounting practices. Using analytics and trend analysis. Revenue recognition red flags. Common methods of fraudulent revenue recognition. Detecting improper revenue recognition. Behavioral cues in fraud detection. Key indicators of stress or unusual behavior. Using interviews and observation to identify behavioral red flags, and more.

Common reasons for modifying audit opinions. Emphasis-of-matter or other-matter explanatory paragraphs. General audit procedures to identify relevant transactions and events impacting financial statement presentation and disclosure. Drafting relevant general footnotes, such as related party transactions, subsequent events, loss contingencies, and more. Improving the footnote drafting process.

Objective of financial reporting and Inter-relationships of financial statements and disclosures. Special purpose framework financial statements and the impact on audits. Types of audit reports, including reasons for modification. Financial statement drafting and issuance process. Performing a final quality control check before report release.

Audit skills for beginners.

Professional judgement.

Quality management.

Best practice techniques for auditing common accounts receivable risks

Areas of audit interest. Audit planning. Understand the contractor and its environment. Understanding audit risk. Understanding contractor controls. Materiality. Audit procedures specific to contractors. Auditing contractor estimates. Developing audit documentation.

Going concern accounting and disclosure.

Long-lived assets.

Assets classified as inventory.

Evaluating the proper recognition, measurement, and disclosure of the most common investments types.

Techniques for auditing accounts payable, accrued expenses, and common long-term financing arrangements and related debt covenants.

Areas of audit interest. Audit planning. Understanding audit risk. Materiality. Using the work of an auditor's specialist. Developing audit documentation.

Generally accepted accounting principles related to sales, including the revenue recognition model of Topic 606. Common revenue recognition fraud schemes and potential audit responses. Audit responses to significant risks requiring special audit consideration related to revenue recognition.

Areas of audit interest. Audit planning. Understanding audit risk. Understanding government entity controls. Materiality. Audit procedures specific to state and local governments. Writing representations.

Review Excel's formula auditing and error checking tools. Identify the most common errors and sources of imbalance in a 3-statement model. Apply techniques to ensure consistency and accuracy across financial models, including checking for column alignment, row differences, and proper referencing. Reconcile changes in balance sheet accounts with corresponding cash flow statement entries to identify and resolve discrepancies effectively.

Auditor responsibilities. Audit committee communication.

Auditor independence. Ethical conflicts. Safeguards. Client affiliates. Reissued reports. Network arrangements. Fees. Trusts and estates. Loans. Leases. Nonattest services. Independence standards for SSAE engagements. Breach of an independence interpretation.

Audits of group financial statements. Key issues related to group audits. The audit process.