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

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$40.00 Members / $56.00 Non-Members
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

Designed For:

Accountants responsible for accounting for or auditing less-complex investments, including 'plain vanilla' derivatives

Prerequisites:

None