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Construction Contractors: Auditing Considerations
Accounting & Financial Reporting
CPE Self-study

Construction Contractors: Auditing Considerations

Auditing a construction client is, at its core, an audit of individual contracts. However, there are many more aspects of the entity that need to be considered. This course will cover those concerns and assist you in gaining the skills to complete the task.

$135 - $165
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Auditing

Level

Basic

CPE Credits

6

Author(s)

Jennifer Elder

Availability

1 year

Product Number

CL4CAUD21SSO

 View  
 Business & partner 
Product Details

Revenue recognition complicates contract auditing

Contract auditing has changed, somewhat, in light of the full implementation of FASB ASC 606, Revenue from Contracts with Customers. The AICPA is here to help with this focused contractor auditing course.

You will learn about contract auditing itself and what should raise red flags. You will also learn about:

  • Audit risks of a contractor
  • Audit planning and risk assessment
  • Substantive auditing procedures; and,
  • Internal controls

Who Will Benefit

Audit professionals with construction clients.

Key Topics

  • Revenue recognition
  • Contracts
  • Contractors
  • FASB ASC 606
  • Audit planning
  • Audit risks
  • Internal controls

Learning Outcomes

  • Identify the riskiest areas when auditing the contracts of a contractor, and recall common audit procedures that must be performed to address these specific risks.
  • Recall the considerations of the applying risk assessment procedures specifically in the audit of construction contractors.
  • Recall the common three phases of contract review during audit planning.
  • Recall the common audit procedures to test each of the five key components of the contractor’s audit model.
  • Identify specific controls that are effective in mitigating the significant risks present in the construction industry
Credit Info
CPE Credits
Online
6
NASBA Field of Study
Auditing
Level
Basic
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$165.00
AICPA Members
Online
$135.00

Group ordering for your team

2 to 5 registrants

Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.

Start order

6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Instructors
Jennifer Elder
Jennifer Elder specializes in making the financially complicated simple, awesomely simple. She has seen all sides of the accounting profession starting in public accounting, was an Accounting Department Chair, and CFO in the private sector. She has worked in manufacturing and distribution, residential construction and development, software development, and angel investing. She is also involved in non-profits, sitting on the Board of Directors of Rude Ranch Animal Rescue. Jennifer is currently President of The Sustainable CFO, helping business owners, executives, and CPAs enhance their success skills and find that elusive work-life balance. She also assists businesses in developing a strategy for integrating sustainability into strategic plans and day-to-day operations. In addition, Jennifer teaches finance at Antioch University New England, is a trainer with the AICPA and Business Learning Institute, and is a contributing writer for TriplePundit. When it comes to instruction, Jennifer believes that in order for training to be effective it must be: approachable, applicable, interactive, and interesting. She focuses on finding the essence of a topic, explaining so that it can be understood at all levels, illustrates with real-life examples, creates opportunities to apply the knowledge, and does it with an infectious enthusiasm. Her goal is to ensure that everyone walks away with something they can use and apply immediately
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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Construction Contractors: Auditing Considerations
Select from the following options:
Online
$165.00
Nonmember Price
$165.00
Price excluding sales tax
$165.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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