This installment of the “How to Audit” series will explore the balance sheet and income statement procedures related to auditing inventory in a client’s financial statements. Discussion will include accounting issues, risk assessments and responsive procedures, inventory observations and common inventory disclosures. This webinar will cover topics most important to auditors who audit inventory and the related balance sheet and income statement accounts.
Instructor: Christopher Martin, CPA
Instructor assignments are fluid and subject to change.
By participating in this webinar, participants should be able to: identify the accounting issues related to inventory; describe the audit objectives and risks related to inventory; explain and perform basic inventory substantive procedures, including an inventory observation; identify when advanced audit procedures may be necessary for certain inventory circumstances; list common inventory disclosures.
PrerequisitesBasic knowledge of accounting and auditing
Advanced Preparation None
Minimum supported systems require:
A laptop or desktop computer running Microsoft Windows 10 or later
(64-bit with at least 8GB of RAM recommended)
The latest available version* of one of the following Internet browsers: Mozilla Firefox, Google Chrome, or Microsoft Edge
A minimum screen resolution of 1024 x 768 pixels
High-speed Internet connection
The latest available version* of Adobe Reader or other application capable of natively opening PDF documents
Use of a cell phone is not recommended or supported.
Devices other than Windows-based desktops, and laptops may work but are not supported (tablet users may not hear the participation alert for online webinar events).
Apple Mac OS/X is not supported; however, OS/X systems capable of running the latest version of one of the listed browsers should work.
*“Latest available version” includes versions released within the past six-months
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