Instructor for this course
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Many auditors are so busy they don’t have the time to understand the concepts behind the audit procedures being performed in each audit area.  This course is an audit concepts session that takes the participants on a journey that links the audit procedures to the audit standards. The course also offers practical ideas on how to make the audit area procedures more efficient while maintaining audit quality.

This session prepares the staff auditor to know what to do and why. In addition, it will also help the senior accountant be better prepared to know how to plan the audit procedures as well as review the work of the staff in this important audit area.

The audit of accounts receivable and underlying fraud risk is a significant component of most audits that are performed.  This course starts with key considerations in risk assessment, internal control and the audit plan for this audit area. Next, these considerations are linked to audit assertions and specific audit procedures.

From an audit procedure standpoint this course also focuses on the techniques and documentation that staff accountants need to know.

Course Key Concepts: Receivable, AR, Audit, Beginner, First-year, Risk, Internal control, Audit assertions.

Learning Objectives

  • Identify risk assessment concepts related to accounts receivable
  • Recognize typical key controls related to the audit assertions for accounts receivable
  • Explore analytical review as a substantive procedure for accounts receivable
  • Recognize supervision and review techniques
  • Identify appropriate documentation of work performed

 

Last updated/reviewed: December 20, 2019

Prerequisites

Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
Introduction And Overview
  2:08Introduction to Audit Concepts for Accounts Receivable and Related Fraud Risks
  25:21Risk Assessment
  6:45Fraud Risk
  20:53Internal Control for Accounts Receivable (AR) and Revenue
  12:01Substantive Procedures
  5:15Documentation Approach
Continuous Play
  1:12:22Audit Concepts for Accounts Receivable and Related Fraud Risks
Supporting Material
  PDFSlides: Audit Concepts for Accounts Receivable and Related Fraud Risks
  PDFAudit Concepts for Accounts Receivable and Related Fraud Risks Glossary/Index
Review And Test
  quizREVIEW QUESTIONS
 examFINAL EXAM