Audit 107: Auditing Cash - Applying Basic Audit Skills
Online
2.00 Credits
Member Price $89.00
Non-Member Price $124.00
Overview
Auditing Cash - Applying Basic Skills to the Starting Point of Any Audit demonstrates how the approach to auditing different cash accounts may vary and how to strengthen inquiry which is an important audit procedure in this area. Cash tends to be one of the first areas assigned to new auditors, as there is typically little complexity and subjectivity involved. In addition, persuasive audit evidence from a third-party is generally available. However, research shows that around 80% of asset misappropriation relates to cash. Therefore, the audit of accounts and classes of disclosures related to cash and cash equivalents does tend to carry some level of risk of material misstatement. Note: This course is recommended as a part of a 16-hour audit skills curriculum for beginning auditors, while it is also appropriate for anyone who has responsibilities for auditing cash and cash equivalents. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Objectives
Upon completion of this course, you will be able to...
- Identify designing and performing standard audit procedures related to cash and cash equivalents
- Recognize typical presentation and disclosure issues related to cash
- Recall how to evaluate audit evidence associated with this typically starting audit area, including evidence obtained through inquiry
Highlights
The major topics covered in this course include:
- Typical audit risks and special considerations related to cash and cash equivalents
- Designing a detailed audit plan, linking assessed risk to planned procedures
- Performing typical audit procedures associated with auditing cash and cash equivalents
- Case study related to auditing cash and cash equivalents, including identifying and evaluating a misappropriation of cash
- Identifying how to obtain evidence through inquiry of the client
Designed For
Professionals requiring fundamental guidance in how to design and perform a detailed audit plan for a less-complex audit area
Prerequisites
None
Preparation
None
Notice
You will receive an email from CPA Crossings via Webex with instructions to access the webinar.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE, LLC
Jennifer F. Louis, CPA has over 19 years of experience in designing and presenting high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organizational success. In 2003, she founded Emergent Solutions Group, LLC, a company dedicated to developing and delivering accounting and auditing training services. She was most recently executive vice president/director of training services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including vice president of product development, and a consultant for the firm’s Audit Productivity Improvement Program TM. She also coauthored a manual on value-added auditing. Before joining AuditWatch, Ms. Louis was the financial/operational 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 $124.00
Member Price $89.00