How to Audit Prepaid Expenses

Overview

Understanding how to effectively audit prepaid expenses is a key skill for audit staff. This course provides a comprehensive overview of the fundamentals, including the applicable audit assertions and common risks and threats associated with the prepaid expense balance. Participants will learn how to perform substantive auditing procedures to ensure accuracy and reliability, with guidance on applying these techniques to real-world scenarios. Designed to enhance practical knowledge, this session equips auditors with the tools and confidence needed to navigate prepaid expense audits with proficiency.

Highlights

• Pre-paid Expenses
• Auditing
• Yellowbook

Prerequisites

None

Designed For

Accounting Professionals

Objectives

• Recall the audit assertions applicable to the prepaid expense balance
• Recognize risks & threats related to the prepaid expense balance
• Identify substantive auditing procedures that are used to obtain comfort over prepaid expenses

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by ACPEN. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.