Self-Study: Surgent's Auditing Accounts Receivable: An Overview

Overview

This course is available until April 30, 2025.

Accounts receivable tends to carry higher risk of material misstatement due to the complexity and subjectivity involved with recognition, measure, and valuation. In addition, revenue recognition is presumed to be a significant fraud risk. This module will discuss the risks associated with accounts receivable and the allowance for doubtful accounts as well as techniques for auditing those areas. (Please Note: This module is part of Surgent’s Audit Skills Training: Level 2.)

Highlights

Risks of material misstatement associated with auditing accounts receivable

Internal controls associated with accounts receivable

Substantive procedures used in auditing accounts receivable

External confirmation audit considerations, including evaluating responses for propriety

Evaluating the valuation of accounts receivable

The AICPA's new SAS on auditing estimates

Prerequisites

None

Designed For

Accountants with responsibilities for auditing accounts receivable

Objectives

Identify audit risks and special audit considerations

Tailor a detailed audit plan for accounts receivable based on the assessed risk

Evaluate confirmation responses and identify areas for follow-up

Evaluate and conclude on the valuation for the allowance for doubtful accounts