New Staff: Practical Application- Auditing Cash and Cash Equivalents

Overview

This CPE course can be purchased individually or as part of the Audit Staff Essentials - New Staff: Practical Application staff training bundle.

Gain an understanding of the risks typically present in major balance sheet accounts, starting with cash.

Understand the client controls you will likely encounter to mitigate those risks in order to establish your risk of material misstatement (RMM).

Highlights

Key Topics

• Relevant professional standards related to auditing cash
• Cash and cash equivalents
• Audit objectives and assertions for cash
• Risk assessment for cash
• Application of guidance and cash case study

Prerequisites

None

Designed For

Who Will Benefit

• Recently onboarded staff
• First-year staff
• Firms that want consistent training and level setting

Objectives

Learning Outcomes

• Recall the audit objectives and related assertions in the cash and cash equivalents area.
• Identify the basic audit procedures over the cash process, including those surrounding risk and fraud, and apply those procedures to a commonly encountered audit situation.