Audit Staff Essentials - New Staff Practical Application: Auditing Accounts Receivable and the Allowance for Doubtful Accounts

Overview

Accounts receivable auditing is decoded for first-year audit staff.

Highlights

Key Topics

• Relevant professional standards related to auditing accounts receivable
• Audit objectives and assertions for accounts receivable
• Risk assessment for accounts receivable
• Using 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 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 uncollectible accounts and the common procedures for auditing the allowance for doubtful accounts.
• Recognize the potential of audit data analytics in accounts receivable audit procedures.