Audit 304: Auditing Basic Investments - Common Risks
Friday, January 17, 2025
Webcast or Webinar, Online
1:30 PM - 3:30 PM (opens at 1:00 PM) EST
2Credits
Accounting and Auditing
Registration is Open
Members
$89.00 Regular Price
Non-Members
$119.00 Regular Price
CPE PowerPass Users
Click the "Apply PowerPass" button to use your PowerPass for the applicable course below.
$40.00 Members / $56.00 Non-Members
Don't have a CPE PowerPass? Click
here to find out more about the CPE PowerPass program.
Course Type: Webcast
Course Code: 24/CX45683
Level: Basic
Vendor: CPA Crossings, LLC
Field of Study: Auditing
Overview:
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.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
Major Topics:
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
Major Topics:
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