Auditing prepaid and other current assets, including the processes and procedures necessary for a successful audit, is explained for new audit staff. Prepaid and current asset audits You can learn to skillfully audit prepaid and other current assets by understanding several key points, including: - Prepaid and other current assets' significance despite representing smaller individual items - Commonly prepaid expenses that must be recognized on a pro-rata basis - Other assets such as investments, short-term notes receivable, and industry-specific transactions that often require complex estimates Applying your new knowledge Practice implementing the guidance you learn through a prepaid and other current assets case study. Who Will Benefit - Recently onboarded staff - First-year staff - Firms that want consistent training and level setting Key Topics - Relevant professional standards related to auditing prepaid and other current assets - Audit objectives and assertions for prepaid and other current assets - Risk assessment for prepaid and other current assets Learning Outcomes - Recall the audit objectives and related assertions applicable to prepaid and other current assets. - Identify the common audit procedures or techniques for obtaining audit evidence in the prepaid and other current assets area.