New Staff: Auditing Accounts Receivable and the Allowance for Doubtful Accounts
This CPE course discusses auditing accounts receivable, covering common procedures, professional standards, and risk assessment steps relevant to accounts receivable.
NASBA Field of Study
Lynford Graham, Tom Noce
This CPE course can be purchased individually or as part of the Audit Staff Essentials - New Staff: Practical Application staff training bundle.
Learn about accounts receivable and its related contra account allowance for doubtful accounts, which is an area often assigned to new staff.
Gain the knowledge necessary to successfully audit accounts receivable, including how using audit data analytics can improve the audit with respect to accounts receivable.
Understand that accounts receivable is considered a high−risk account because it is associated with sales and revenue recognition, which is very subjective in nature and relies primarily on management estimates.
Learn how, with careful thought and an understanding of risk assessment, auditing accounts receivable can be an efficient and effective process.
- Recently onboarded staff
- First-year staff
- Firms that want consistent training and level setting
- Relevant professional standards related to auditing accounts receivable
- Audit objectives and assertions for accounts receivable
- Risk assessment for accounts receivable
- Application of guidance and an accounts receivable case study
- Using audit data analytics
- Recall the audit objectives and related assertions in the accounts receivable area
- Identify the basic audit procedures over the accounts receivable process, including those surrounding risk and fraud, and apply those procedures to a commonly encountered audit situation.
- Identify the concerns and risks of uncollectable accounts and the common procedures for auditing the allowance for doubtful accounts.
- Recognize the potential of audit data analytics in accounts receivable audit procedures.
Group ordering for your team
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