Long-term debts decoded
You can learn about recognizing and measuring long-term debt by examining various topics, such as:
- Relevant professional standards
- Audit objectives and assertions
- Challenging issues related to presentation and disclosure
Long-term debt auditing mechanics
Knowing the more mechanical side of auditing debt is essential to your audits. You can gain an understanding of long-term debt auditing mechanics, including how to:
- Confirm balances
- Recalculate accrued interest
- Recognize interest expenses
- Draft working papers with sufficient appropriate evidence to support related financial statement disclosures
Who Will Benefit
- Recently onboarded staff
- First-year staff
- Firms that want consistent training and level setting
Key Topics
- Relevant professional standards
- Audit objectives and assertions
- Risk assessment and commonly identified risks
- Common audit procedures
Learning Outcomes
- Recall the audit objectives and related assertions in the debt area.
- Identify the basic audit procedures over the debt process, including those surrounding risk and fraud.