Surgent's Auditing Cash and Cash Equivalents (Audit Skills Training: Level 1) (A1M8)

Course Details





Field of Study

Accounting & Audit

CPE Credit

3 hours CPE credit

Level of Knowledge



Surgent McCoy CPE, LLC




Cash tends to be one of the first areas assigned to new auditors, as there is typically little complexity and subjectivity involved. In addition, persuasive audit evidence from a third-party is generally available. However, research shows that around 80% of asset misappropriation relates to cash. Therefore, the audit of accounts and classes of disclosures related to cash and cash equivalents does tend to carry risk of material misstatement.


  • Explain typical audit risks and special considerations related to cash and cash equivalents
  • Describe designing a detailed audit plan, linking assessed risk to planned procedures
  • Perform typical audit procedures associated with auditing cash and cash equivalents
  • Discuss how to obtain evidence through inquiry of the client


  • Standard audit procedures related to cash and cash equivalents
  • Case study related to auditing cash and cash equivalents, including identifying and evaluating a misappropriation of cash
  • Typical presentation and disclosure issues related to cash
  • Exercise related to do’s and don’ts in client interview situations
  • Key controls related to cash receipts and cash disbursements

Designed For

Professionals new to auditing cash and cash equivalents

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