This revenue audit CPE course is an essential resource for auditors seeking to deepen their understanding and skills in revenue auditing. This auditing CPE provides a thorough analysis of the characteristics of revenue and outlines the sequential steps required for effective auditing. Delving into revenue recognition rules and addressing complex areas such as consignment arrangements and customer acceptance issues, the course ensures auditors are well-versed in these critical aspects. Additionally, it offers strategies to identify and tackle revenue fraud and insights into maintaining robust revenue controls. The practical knowledge gained from this auditing CPE course not only enhances theoretical understanding but also translates into improved auditing practices, ensuring auditors can confidently navigate the nuances of revenue auditing and contribute to the integrity of financial reporting.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Recognize the various accounts that comprise an organization's revenue.
Describe the different types of revenue fraud arrangements.
Cite the methods used by an auditor to audit revenue.
Chapter 2
Identify the circumstances under which a contract does and does not exist.
Recognize the steps used in the revenue recognition process.
Describe how and when the expected value method is used.
Recognize the accounting rules that apply to noncash assets, nonrefundable fees, and customer acceptance.
Major Topics
Audit Revenue
Revenue Rules
