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Auditing PP&E, Including Leases Under Topic 842 – Digesting The Risks Of Improper Treatment Of Tangible Long-lived Assets

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


  • PP&E Defined
    2 mins
  • Where is the best place to shop for a lightsaber?
    17 mins
  • Depreciation of Significant Components
    26 mins
  • Segregation of Duties
    43 mins
  • Identifying Non-Lease Components
    64 mins
  • Key Points for Lessee - Lease Modifications
    95 mins

Course Description

In virtually all audit property, plant, and equipment (PP&E) is present, at least to some extent. Under special circumstances such as the right of use under a lease agreement complexities arise. This CPE webinar is going to address the risk of PP&E, internal controls that detect as well as prevent misstatement in PP&E, and auditing techniques responsive to the assessed risk and disclosures.

From the risk perspective, property, plant, and equipment can range from a low-risk to a high-risk audit area, depending on the nature of transactions and events engaged in by the reporting entity. Construction, capitalized interest and complex leasing arrangements tend to result in a higher risk of material misstatement.  This webinar is going to discuss the typical audit risks. It will also discuss the special audit considerations that the auditors should implement.

The speaker is also going to discuss a detailed audit plan that is responsive to assessed material misstatement for fixed assets as well as leases. It will cover in detail the key controls that the auditor may implement to ensure substantial assurance. The webinar will also discuss lease accounting in detail from the perspective of impacts of Topic 842. It will addresses tips and techniques for auditing tangible long-lived assets for various assessed risk levels, with a special emphasis on lease accounting under Topic 842.

The Online CPE webinar for CPAs cover the following Key Topics:

  • Typical audit risks and responses for tangible long-lived assets
  • Special issues related to initial recognition and capitalization, including capitalized interest
  • Key controls related to PP&E
  • Lease accounting requirements and practical application of Topic 842

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Learning Objectives

  • To discover and discuss typical audit risks for tangible long-lived assets
  • To identify and explore special audit considerations for tangible long-lived assets.
  • To recognize and tailor a detailed audit plan to respond to the assessed risk of material misstatement related to fixed assets and leases.
  • To explore and explain key controls related to property, plant, and equipment.
  • To discover, describe, and apply lease accounting requirements, including the impact of Topic 842 lease accounting standard changes on both lessees and lessors.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA