Auditing Contingincies and Going Concern Uncertainty - Testing for Com

Overview

Description:
Auditing Contingencies and Going Concern Uncertainty - Testing for Completeness and Proper Disclosure will provide tips and techniques for obtaining sufficient appropriate audit evidence to support conclusions related to contingencies and going concern uncertainty. Financial statements may contain significant uncertainties requiring special audit consideration for evaluating proper accounting and financial reporting treatment.

Learning Objectives:
After attending this presentation you will be able to . . .

• Recognize accounting and auditing requirements for commitments and contingencies
• Identify litigation, claims and assessment special considerations
• Recall the auditor's responsibility for evaluating the appropriateness of going concern accounting and disclosure

Program Content:

• Overview of contingencies and related disclosures
• Identifying and determining proper accounting treatment for litigation, claims and assessments
• Evaluating the sufficiency of attorney's letter responses for audit evidence
• Evaluating substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time
• Auditing managements assumptions in making the going concern evaluation
• Proper application of the liquidation basis of accounting

Who should attend:  Accountants responsible for auditing contingencies and going concern uncertainties

Developed by:  Emergent Solutions Group LLC

Instructor:  Jennifer F. Louis, CPA

Highlights

Prerequisites

Basic familiarity with fraud risk

Designed For

Objectives

Preparation

None