How to Audit Liabilities
Audit liabilities using a structured framework that addresses one of the highest-risk areas of the balance sheet. This course explains the defining characteristics of liabilities from an audit perspective and then walks through the procedures required to test accounts payable, accrued liabilities, and debt. You will place special emphasis on the search for unrecorded liabilities while integrating targeted background on liability accounting, enabling you to design effective and well-documented audit procedures.
Format
PDF Course
Course Lists
Duration
1 Hour
Course Information
Author: Steven Bragg
Course Number: AU1014
Table of Contents
Chapter 1. Auditing Liabilities
Chapter 2. Accounting for Liabilities
Learning Objectives
- Recognize the key characteristics of liabilities.
- Specify the circumstances in which inherent risk is considered to be more likely.
- Cite the different activities that can be used to examine accrued liabilities.
- Describe the different types of analytical procedures that can be applied to liabilities.
- Recognize the accounting rules related to loss contingencies and the fair value option.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: November 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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