Gain
a better understanding of audit confirmation best practices and
real-life examples from an accounting and finance perspective.
This information will help you use confirmations more efficiently
and effectively, including avoiding common issues that can result in
peer review and enforcement findings.
Efficiency is enhanced by evaluating whether confirmations are
necessary, evaluating the necessary sample size, and how the
confirmations should be transmitted. Confirming other information
when appropriate and validating recipients and responses can improve
confirmation effectiveness.
Learning Objectives:
- You will be able to recognize common problem areas in
the audit confirmation process.
- You will be able to discuss whether bank confirmations
are necessary and how they should be transmitted.
- You will be able to identify when receivables
confirmations are required and the form of the request.
- You will be able to review the results of confirmation
testing including the need to obtain supporting
documentation.
This Live Webinar Covers These Hot Issues
Continued Importance of Confirmations
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Enforcement Findings Related to Cash and Receivable
Confirmations
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Increased Need for Direct Third-Party Evidence to
Validate Electronic Source Information
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New Ways to Transmit and Receive Confirmation
Bank Confirmations
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How to Determine Whether Bank Confirmations Are
Necessary
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How to Send Electronic Bank Confirmations
Sending Receivables
Confirmations
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Identify When Confirmations Are Not Appropriate
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How to Determine the Type(s) of Confirmations to Send
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How to Determine the Number of Confirmations to Send
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Evaluating Individually Significant Accounts and Whether
Stratification Is Necessary
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Addressing Client Requests Not to Send Selected
Confirmations
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Evaluate the Need to Confirm Special Terms and Other
Information
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Maintaining Control and Validating Recipients
Evaluating
Confirmation Responses
-
Determining When Alternative Procedures Are Not
Necessary
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Evaluating Whether a Confirmation May Need Additional
Validation
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Extrapolating Results
Accounts Payable
and Other Types of Confirmations
Credit Information (Sponsored by Lorman Education Services):
- CLE
- CPE
- NASBA
- Enrolled Agents
For Detailed Credit Information page
click here
Only registered attendee will receive continuing education credit.
Faculty
Randal J. Elder, The Bryan School
- Professor and head of department of accounting and
finance in The Bryan School of Business and Economics at the
University of North Carolina at Greensboro
- Previously accounting department chair and senior
associate dean at Syracuse University Whitman School of
Management
- Public accounting experience as an audit manager at a
large regional audit firm with experience with private
companies and government and nonprofit audit clients
- Chaired research synthesis on audit confirmations and
audit sampling performed by the auditing section of the
American Accounting Associate for the PCAOB.
- Co-author on a leading auditing textbook, Auditing and
Assurance Services: An Integrated Approach
- Member of the AICPA and American Accounting Association
- Ph.D. degree, Michigan State University
- Can be contacted at 336-256-0530 or rjelder2@uncg.edu
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