Auditing accounts payable and accrued expenses can pose a challenge. Learning to search for unrecorded liabilities and identify common risks can help new audit staff navigate this audit area. Purchases, payables, and accrued expenses basics Accounting for accounts payable and accrued expenses is typically straightforward and centered on when to recognize a liability. You can better understand how to plan your procedures when auditing purchases, payables, and accrued expenses by exploring topics, such as: - Uncovering unrecorded liabilities - Identifying risks - Using audit data analytics for improved quality and efficiency Applying your new skills Through an interactive case study, you can practice the critical substantive test. Additionally, you can assess whether your search for unrecorded liabilities was thorough enough to gain assurance that material unrecorded liabilities have been detected. 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 accounts payable and accrued expenses - Audit objectives and assertions for accounts payable and accrued expenses - Risk assessment for accounts payable and accrued expenses - Applying guidance in an accounts payable and accrued expenses case study - Use of audit data analytics Learning Outcomes - Recall the audit objectives and related assertions in the accounts payable and accrued expenses area. - Identify the basic audit procedures over the accounts payable and accrued expenses process, including those surrounding risk and fraud. - Recognize the potential of audit data analytics in accounts payable audit procedures.