March 25, 2024


2 Total CPE Credits


Audit 205: Auditing Liabilities and Long-Term Debt Risks

  • Instructor

    Jennifer Louis

Learning Objectives

Upon completion of this course, you will be able to...

  • Identify typical audit risks and special audit considerations related to various liabilities
  • Tailor the audit plan in response to assessed risk of material misstatement, focusing on the assertions with typically higher risk
  • Evaluate results from a search for unrecorded liabilities and procedures to assess the propriety of accrued estimates
  • Evaluate the completeness, classification, and disclosure of financing arrangements - including debt covenant compliance

Major Topics

The major topics covered in this course include:

  • Typical audit procedures related to accounts payable and accrued expenses, including the search for unrecorded liabilities
  • Key controls related to liabilities
  • Auditing long-term debt, including compliance with covenants
  • Determining the proper classification of financing arrangements
  • Proper form of noncompliance waiver letters
  • Impact of noncompliance on disclosures

CPE Credits Available

Total CPE

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • A&A

Advanced Preparation


Intended Audience

Accountants responsible for auditing accounts payable, accrued expenses and debt


CPA Crossings

Register For This Event

  • ASCPA Member

    $ 89 89
  • ASCPA Non-Member

    $ 139 139
    Your Price

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