Many small and mid-size entities hold less-complex investments, including mutual funds, `plain vanilla' derivatives (such as interest rate swaps), and permanent life insurance policies. This audit risk assessment CPE course provides an overview for evaluating the proper recognition, measurement and disclosure of the most common investments types. Participants of this auditing CPE course will review common audit risks, examine accounting principles for common derivatives, and review fair value presentation and disclosure requirements.
Learning Objectives
Upon completion of this course, participants will be able to:
Explain typical audit risks associated with auditing the most common investments
Identify how to tailor the audit plan to assessed risks of material misstatement
Recall the fundamental principles of accounting for common derivatives
Explain fair value presentation and disclosure requirements
