Identifying Audit Risks - Financial Reporting and Revenue RecognitionCode: 27-AUDRISKSFPRR

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Course Details

Pages: 21
Course Overview
This course explores common red flags found in financial reporting and revenue recognition that auditors should watch for during an audit. Key topics include identifying unusual patterns in financial statements, such as irregular revenue or expense recognition, discrepancies in accounts, and indicators of financial manipulation. The course also covers red flags in revenue recognition practices, focusing on the application of ASC 606 and the warning signs that suggest improper revenue reporting. This course emphasizes how auditors can detect financial misstatements early and respond effectively.

Learning Objectives
Upon completion of this course, you will be able to:
  •  Identify red flags in financial statements that suggest potential misstatements or fraud
  •  Recognize common issues in revenue recognition practices that could indicate improper reporting
  •  Distinguish between normal financial reporting practices and warning signs of manipulation
Category: Auditing

Recommended CPE Hours: 1

Level of knowledge: Overview

Prerequisite: General understanding of Auditing

Advanced Preparation: None
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