Live Stream: Auditing the Basics - Cash and PP&E

299  |  Livestream  |  Basic  |  Scheduled

Description

This course covers two of the more basic financial statement line items auditors are assigned: cash and cash equivalents and property, plant, and equipment (PP&E). These topics tend to be straightforward with less complexity and risk than other areas. In addition, there is little subjectivity involved outside of the entity directly building its own PP&E or using the assets under a lease agreement. Regardless, persuasive audit evidence from a third party or direct inspection is generally available in both cases. Auditors should approach cash with the same professional skepticism as other areas since there is always the risk of material misstatement. For PP&E, the auditor must understand internal controls that prevent and detect misstatements and auditing techniques responsive to the assessed risk and disclosure. This course discusses the risks and audit considerations necessary to successfully audit these two accounts.

Credits

Number of Credits Type of Credits
4.00 Auditing

Designed For

Professionals new to auditing cash and cash equivalents

Highlights

  • Typical audit risks and special considerations related to cash and cash equivalents
  • How to identify the risk of fraud related to cash and cash equivalents
  • Designing a detailed audit plan, linking assessed risk to planned procedures
  • Techniques used to perform the audit procedures and obtain evidence associated with auditing cash and cash equivalents and PP&E
  • Case study and "test yourself" questions related to auditing cash and cash equivalents
  • Internal control related to property, plant, and equipment and cash and cash equivalents
  • Construction of assets including capitalizing interest
  • Lease accounting requirements and disclosure of right-of-use assets

Objectives

  • Identify risks related to cash and cash equivalents and PP&E
  • Identify sources of audit evidence associated with cash and cash equivalents and PP&E
  • Describe typical presentation and disclosure issues related to cash and PP&E
  • Identify internal controls to prevent, detect, and correct misstatements in property and equipment
  • Tailor an audit plan to respond to assessed risk of material misstatement
  • Understand the key controls related to PP&E and cash and cash equivalents

Prices

Member (Early Bird)
$189.00
Non-Member (Early Bird)
$249.00
Member
$189.00
Non-Member
$249.00
Your Price: $249.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

Members log in and save $60.00 on this event. Not a member? join today.

Instructors

Sharon L. Martin

Sharon L. Martin, MBA, CPA, is an Associate Professor in the Department of Accountancy at Weatherhead School of Management (WSOM) at Case Western Reserve University in Cleveland, Ohio. Sharon twice served as the Associate Dean for Finance and Administration at WSOM and co-chaired the strategic planning committee. Sharon received the 2018 Outstanding Undergraduate Faculty Advocate award. She has also been nominated for outstanding faculty member by Gamma Sigma Alpha and nominated for the WSOM Undergraduate Teaching Award multiple times. Martin is a graduate of John Carroll University. She obtained her Executive MBA from Baldwin Wallace University and gained Certificates in Women’s Leadership and Executive Coaching from Case Western Reserve as well. Martin’s career spanned 25 years at Ernst & Young in various roles in the audit practice, including principal in the Global Assurance Advisory Business Services (AABS) group, executive director in the Americas Quality and Risk Management team, and the global director of AABS Technology

Back to Instructors
Return to Events