Audit Staff Essentials - New Staff Practical Application: Auditing Accounts Payable and Accrued Expenses

Overview

Auditing accounts payable and accrued expenses can pose a challenge. Learning to search for unrecorded liabilities and identify common risks can help new audit staff navigate this audit area.

Highlights

Key Topics

• Relevant professional standards related to auditing accounts payable and accrued expenses
• Audit objectives and assertions for accounts payable and accrued expenses
• Risk assessment for accounts payable and accrued expenses
• Applying guidance in an accounts payable and accrued expenses case study
• Use of audit data analytics

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 accounts payable and accrued expenses area.
• Identify the basic audit procedures over the accounts payable and accrued expenses process, including those surrounding risk and fraud.
• Recognize the potential of audit data analytics in accounts payable audit procedures.