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Auditing Fixed Assets In A Pandemic

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Before starting this self study program, please go through the instructional document.

Overview

  • Applicable Accounting Guidance
    4 mins
  • Auditing Pre-Pancemic
    13 mins
  • Auditing Fixed Assets in a Pandemic
    29 mins
  • Fixed assets
    47 mins
  • Internal Controls Checklist
    60 mins
  • Wrap Up
    92 mins

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

Testimonial

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