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Wednesday, August 23, 2023 Live Webcast

Audit 406: Auditing Revenue Recognition - Common Risks (X2-36931)

1:30 PM - 3:30 PM EDT
webcast

Vendor Platform

2 CPE Credits in AA

OVERVIEW

Auditing Revenue Recognition - Grasping the Higher Risks and Special Audit Considerations will provide tips and techniques for obtaining sufficient and appropriate audit evidence to support conclusions related to accounting for revenues obtained from contracts with customers. Revenue recognition is presumed to be a significant risk for financial statement auditing purposes due to the increased risk of both fraud and error.

DESIGNED FOR

Accountants responsible for auditing revenue recognition

BENEFITS

After attending this presentation, you will be able to...

  • Identify typical revenue recognition risks, including the impact of applying the newest revenue recognition model of Topic 606
  • Recall how to link the assessed risk of material misstatement to a detailed audit plan for revenue recognized in a contract with a customer
  • Recognize special revenue recognition considerations, such as contracts with financing elements, multiple distinct performance obligations, and more

HIGHLIGHTS

The major topics covered in this course include:

  • Generally accepted accounting principles related to sales, including the newest revenue recognition model of Topic 606
  • Common revenue recognition fraud schemes and potential audit responses
  • Audit responses to significant risks requiring special audit consideration related to revenue recognition

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Jennifer Louis

Jennifer F. Louis, CPA

President

Emergent Solutions Group

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys