- NY Credits : 6.0
- TX Credits : 6.0
With the current real estate market and construction climate, opportunities for fraud abound. This program considers the current construction and surety climate and the CPA's role and interaction with them. It reviews how CPAs can work with their clients in establishing and maintaining strong relationships with a bonding agent and surety. Current GAAP, change orders, and important analytical procedures for the construction industry are all examined in this program. This program looks at ways CPAs may add value to their clients. Additional considerations in this program are effective and efficient audit engagements of contractors with specific consideration of fraud in a financial statement audit.
This course is most beneficial to professionals new to construction accounting who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this subject.
Upon successful completion of this course, the user should be able to:
identify where the construction industry stands today,
recognize the impact and various types of bonds and common surety terms,
identify the importance of financial statement disclosures,
recognize the scope of review engagements for contractors, and
recognize various audit issues critical to the construction industry.