• Course Information

    Title: Auditing: The Latest Developments - 2020
    Category: Accounting and Auditing
    Field of Study: Auditing
    Course Code: A020-0253
    CPE Credits: 16.0
    Price: $99.95


The objective of this course is to review the latest developments affecting audit engagements. Part of planning an audit involves consideration of the business and economic environment in which the client operates. Thus, auditors need to be aware of the various types of fraud that clients and employees may be committing, especially in light of myriad lawsuits against auditors and accountants. In addition to applying techniques to limit their liability to their clients and third parties, auditors are confronting other major problems facing the accounting field, including compliance with the Sarbanes-Oxley Act. The peer review comments and new auditing statements provide further guidance on current issues. To deal with the volatility in the business climate, auditors should focus their efforts in key areas and should take lessons from litigation. Additionally, in this course, auditors will learn how to perform more efficient engagements, understand the new auditor's report guidance found in SAS Nos. 134-139, agreed-upon engagements in SSAE No. 19, and much more. The course focuses on recalling, recognizing and identifying rules related to auditing standards including new developments pertaining to those standards. The course also addresses auditing issues related to the coronavirus (COVID-19).

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Steven C. Fustolo

Category: Accounting and Auditing

Field of Study: Auditing

Passing Score: 70%

Publication Date: 03/30/2020

Technical Details: Auditing is a technical field of study.

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Section 1:      Auditing Developments
1. Identify certain factors that an auditor may or may not consider in assessing going concern
2. Identify audit procedures that an auditor should perform on receivables and inventories
3. Recall how equity securities should be accounted for under the new ASU 2016-01 rules
4. Identify examples of fraud involving fraudulent financial reporting and misappropriation of assets
5. Recall the definition of near term
6. Identify an advantage of remote auditing
7. Recognize the three conditions of the fraud triangle
8. Recall additional procedures required by an auditor to deal with the risk of management override of internal controls
9. Identify some of the steps required to recognize revenue under the new revenue standard

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QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA, CMA

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