Description

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.

The other Segments of this series Identifying Audit Risks are:

1. Identifying Audit Risks – Financial Reporting and Revenue Recognition (Text Based Course)
2. Identifying Audit Risks – Behavioral and Management Cues (Text Based Course)
3. Identifying Audit Risks – Internal Controls and Audit Evidence (Text Based Course)
4. Identifying Audit Risks – Compliance and Going-Concern Issues (Text Based Course)