Audit Nightmares - LumiQ Podcast Learning Path

Overview

Join LumiQ’s resident auditors as they investigate real world case studies of audits gone wrong. Whether it’s negligence or fraud committed with the intention to mislead, these episodes break down the key assertions that were at risk and what auditors need to know so that they don’t repeat these mistakes.

Episodes in this learning path include:
- Audit Nightmares: Expenses
- Audit Nightmares: Revenue Recognition
- Audit Nightmares: Bank Confirmations
- Audit Nightmares: Inventory Counts
- Audit Nightmares: Related Party Transactions

After purchasing this product you will receive an email from LumiQ with instructions for accessing the learning path on their web, iOS, or Android applications.

Highlights

- Identify the key risks associated with auditing expenses and common deficiencies in applying audit procedures
- Recall audit procedures to identify improper timing of revenue recognition
- Identify the potential audit implications of inappropriate bank confirmations
- Describe common risks and everyday challenges auditors face during inventory counts

Prerequisites

None

Designed For

Current or ex-auditors who want to learn about mistakes and mishaps through real case studies. .

Objectives

- Define channel stuffing and summarize the impacts on revenue recognition and required disclosures
- Identify the key assertions addressed and best practices for performing an inventory count
- Recognize the challenges in obtaining independent bank confirmations from third parties
- Identify the key risks associated with auditing expenses and common deficiencies auditors make in applying audit procedures
- Recall audit procedures to identify improper timing of revenue recognition

Preparation

None