Auditing Fixed Assets in a Pandemic

Samuel Monastra

Samuel Monastra

Tuesday, March 09, 2021 | 10:00 AM EST

  • CPA

2 CPE

$20

Subject Area

Auditing

Webinar Qualifies For

2 CPE credit of Auditing for all CPAs

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

The fixed asset audit procedures are for those assets that are expected to last more than just a year such as land, buildings, assets, and equipment. Fixed assets are primary resources for the business. Asset audit is necessary to do once a year to update all the records of assets in a proper manner.

The audit procedure for accounting ensures the existence of assets in an organization. There are some procedures that are used to verify the existence of different categories of assets while auditing. For example, buildings, heavy equipment, and other fixed assets existence will be verified through observation only. Through asset audit procedures, it is identified that the assets in the company are at its current location. And as the process moves ahead, it helps to prepare the accurate balance sheet ensuring regulatory compliance. Also, accurately performed asset audit procedures provide better internal control.

This webinar will discuss: 

  • How companies are embracing technology
  • The virtual workplace 
  • New methods to audit fixed assets in a pandemic

Audit procedures are generally performed to confirm the financial assertion of the transactions or events that have occurred in the financial statements. This webinar will provide insights into procedures that can not only confirm assertions, but also provide operational data and information.

Learning Objectives

  • To re-fresh the understanding of traditional audit procedures performed in conjunction with an audit of fixed assets.
  • To identify risk areas and its implications
  • To recognize the technology tools available, that can enhance and improve the quality and functional use of the results of a fixed assets audit.
  • To identify the new methods of auditing fixed assets based on the technology tools.

Who Should Attend?

  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Auditors
  • Young CPA
  • Senior Accountant
  • Accounting Managers
  • Staff of Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers