Auditing Investments - Understanding Risks and Procedures for the Most Common Investments will provide an overview for evaluating the proper recognition, measurement and disclosure of the most common investments types. 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.
DESIGNED FOR
Accountants responsible for accounting for or auditing less-complex investments, including 'plain vanilla' derivatives
BENEFITS
Upon completion of this course, you will be able to...
- Recall typical audit risks associated with auditing the most common investments
- Identify how to tailor the audit plan to assessed risks of material misstatement
- Recognize the fundamental principles of accounting for common derivatives
- Recall fair value presentation and disclosure requirements
HIGHLIGHTS
The major topics covered in this course include:
- Overview of the most common investment types
- Typical audit risks and related audit procedures for common investments
- The basics of accounting for equity investments in other entities
- Understanding common 'plain vanilla' derivatives, like interest rate swaps
- Fair value disclosure, including applying the fair value hierarchy
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None