Auditing Cash – Applying Basic Skills To The Starting Point Of Any Audit

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Risk Assessment for Cash

2 mins
Held Checks

14 mins
Electronic Bank Confirmations

27 mins
Cash in Excess of FDIC Limits

40 mins
Case Study - Additional Information

66 mins
Unrealized Gains/Losses - Debt and Equity Securities

97 mins

Course Description

Cash is King. Cash makes the world go around. For any business management of cash is very important. Therefore the auditing cash transactions is of crucial importance.

Cash tends to be one of the first areas assigned to new auditors, as there is typically little complexity and subjectivity involved. In addition, persuasive audit evidence from a third party is generally available.

However, research shows that around 80% of asset misappropriation relates to cash. Revenue and cash receipts are two critical areas that require strong controls to prevent intentional fraud or unintentional misstatements. Therefore, the audit of accounts and classes of disclosures related to cash and cash equivalents does tend to carry some level of risk of material misstatement.

This Online CPE course discusses common audit procedures surrounding cash and cash equivalents, as well as steps for risk assessment to identify common risks found in this area. It will also demonstrate how the approach to auditing different cash accounts may vary. It also covers how you can strengthen inquiry which is an important audit procedure in the area of cash and cash equivalents.

This Online CPE webinar covers the following Key Topics:

Explain typical audit risks and special considerations related to cash and cash equivalents
Describe designing a detailed audit plan, linking assessed risk to planned procedures
Perform typical audit procedures associated with auditing cash and cash equivalents
Case study related to auditing cash and cash equivalents, including identifying and evaluating a misappropriation of cash
Discuss how to obtain evidence through inquiry of the client

Click to access CPE webinars on Accounting & Auditing | IRS Audit CE webinars |

Learning Objectives

To discover and discuss designing and performing standard audit procedures related to cash and cash equivalents.
To identify and describe typical presentation and disclosure issues related to cash.
To recall audit risks related to cash and cash equivalents
To explore and explain how to evaluate audit evidence associated with this typically starting audit area, including evidence obtained through inquiry.
To explore the concepts in detail through the case study

Recommended For

This Online CPE webinar is recommended for Professionals requiring fundamental guidance in how to design and perform a detailed audit plan for a less-complex audit area.
This Online Continuing Professional Education webinar on Auditing is recommended for CPAs, CMA, CFE, CIA, CRMA, and Other Professionals who desire to support their clients with better cash auditing services

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Auditors
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Senior Accountant
Staff of Accounting Firm
Young CPA

Course Qualification

Webinar Qualifies For

2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2.5 CPE Credit for Certified Management Accountants (CMA)
2.5 CPE Credit for Certified Internal Auditors (CIA)
2.5 CPE Credit for Certified Fraud Examiner (CFE)
2.5 CPE Credit for Certification in Risk Management Assurance (CRMA)
2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2.5 CE Credit for Certified Wealth Strategist (CWS)
2.5 General Credit for Accountant/Bookkeeper (ACCT./BK)
2.5 CPD Credit for Chartered Accountants - ICAEW
2.5 CPD Credit for Chartered Certified Accountants (ACCA)
2.5 CPD Credit for Chartered Accountants - Ireland (CAI)
2.5 CPD Credit for Chartered Accountants - Scotland
2.5 CPD Credit for CPA - Ireland

Additional details

Course Level :

Basic
Credits :

2.5
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes :

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

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