April 10, 2025


Webinar


2 CPE

Audit 205: Auditing Liabilities and Long-Term Debt Risks

April 10, 2025
Webinar
2 CPE

Audit 205: Auditing Liabilities and Long-Term Debt Risks

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    Instructor

    Jennifer
    Louis

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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

2 CPE
2
Auditing

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • A&A

Advanced Preparation

None

Intended Audience

Accountants responsible for auditing accounts payable, accrued expenses and debt

Provider

CPA Crossings, LLC

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