Audit 304: Auditing Basic Investments - Common Risks

Course Details

Date

Tuesday, October 3, 2023

11:30am – 1:30pm (Registration: 4:02pm)

Location

Online

Field of Study

Accounting & Audit

CPE Credit

2 hours CPE credit

Level of Knowledge

Beginning

Vendor

CPA Crossings

Prerequisites

None

Description

Auditing Investments - Understanding Risks and Procedures for the Most Common Investments will provide an overview for evaluating the proper recognition, measurement and disclosure of the most common investments types. Many small- and mid-size entities hold less-complex investments, including mutual funds, 'plain vanilla' derivatives (such as interest rate swaps), and permanent life insurance policies.

Note: This course is recommended as a part of a 16-hour audit skills curriculum for in-charge or supervisor auditors, while it is also appropriate for anyone who has responsibilities for auditing common investments.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this course include:

  • Overview of the most common investment types
  • Typical audit risks and related audit procedures for common investments
  • The basics of accounting for equity investments in other entities
  • Understanding common 'plain vanilla' derivatives, like interest rate swaps
  • Fair value disclosure, including applying the fair value hierarchy

Objectives

Upon completion of this course, you will be able to...

  • Recall typical audit risks associated with auditing the most common investments
  • Identify how to tailor the audit plan to assessed risks of material misstatement
  • Recognize the fundamental principles of accounting for common derivatives
  • Recall fair value presentation and disclosure requirements

Designed For

Accountants responsible for accounting for or auditing less-complex investments, including 'plain vanilla' derivatives

Registration for this course has passed.

Course Pricing

WYOCPA Member Fee
$89.00

Non-Member Fee
$116.00

Your Price
$116.00

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