On-Demand


2 CPE

New Staff: Auditing Inventory and Inventory Valuation

On-Demand
2 CPE

Learning Objectives

Recall the audit objectives and related assertions in the inventory area.;Identify the basic audit procedures over the inventory process, including those surrounding risk and fraud, and apply those procedures to a commonly encountered audit situation.;Recall concepts related to and procedures used in auditing inventory valuation, including price testing.;Recognize the potential of audit data analytics in inventory audit procedures.

Major Topics

Professional standards related to auditing inventory;Audit objectives and assertions for inventory;Risk assessment for inventory;Inventory observation;Application of guidance and an inventory case study;Using audit data analytics

CPE Credits Available

2 CPE
2
Auditing

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting & Auditing
  • Accounting and Auditing
  • Emerging Professional

Prerequisites

None

Advanced Preparation

None

Intended Audience

Recently onboarded staff;First-year audit staff;Firms that want consistent training and level-setting

Provider

AICPA

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