Self-Study

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

  • Tuesday, March 27, 2018 – Tuesday, April 30, 2019

  • 3
    CREDITS
    Auditing

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.

Objectives

  • 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

Highlights

  • 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

Additional Information

Designed For

Professionals new to auditing cash and cash equivalents

Vendor

Surgent

Advanced Preparation

None

Prerequisite

None

Field of Study

Auditing

Course Number

1824954

Level of Knowledge

Basic

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