Audit 407: Auditing Contingencies and Going Concern
Tuesday, February 25, 2025
Webcast or Webinar, Online
11:00AM - 1:00 PM (opens at 10:30AM) EST
2Credits
Accounting and Auditing
Registration is Open
Members
$89.00 Regular Price
Non-Members
$119.00 Regular Price
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Course Type: Webcast
Course Code: 24/CX45814
Level: Basic
Vendor: CPA Crossings, LLC
Field of Study: Auditing
Overview:
Auditing Contingencies and Going Concern Uncertainty - Testing for Completeness and Proper Disclosure will provide tips and techniques for obtaining sufficient appropriate audit evidence to support conclusions related to contingencies and going concern uncertainty. Financial statements may contain significant uncertainties requiring special audit consideration for evaluating proper accounting and financial reporting treatment. Note: This course is recommended as a part of a 16-hour audit skills curriculum for supervisory or managerial auditors, while it is also appropriate for anyone who has responsibilities for evaluating loss contingencies and substantial doubt about going concern. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.Objectives:
After attending this presentation, you will be able to...
- Recognize accounting and auditing requirements for commitments and contingencies
- Identify litigation, claims and assessment special considerations
- Recall the auditor's responsibility for evaluating the appropriateness of going concern accounting and disclosure
Major Topics:
The major topics covered in this course include:
- Overview of contingencies and related disclosures
- Identifying and determining proper accounting treatment for litigation, claims and assessments
- Evaluating the sufficiency of attorney's letter responses for audit evidence
- Evaluating substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time
- Auditing managements assumptions in making the going concern evaluation
- Proper application of the liquidation basis of accounting
Major Topics:
The major topics covered in this course include:
- Overview of contingencies and related disclosures
- Identifying and determining proper accounting treatment for litigation, claims and assessments
- Evaluating the sufficiency of attorney's letter responses for audit evidence
- Evaluating substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time
- Auditing managements assumptions in making the going concern evaluation
- Proper application of the liquidation basis of accounting