Auditing  |  Format: Flash

Best Practices for Internal Auditors/Part IV: Key Accounting Processes

Course Overview
This course provides an overview of the best practices for internal auditors with respect to analyzing and testing key accounting processes. Specifically, this course is intended to provide an overview of the integrated accounting environment and discuss the procedures an internal auditor should consider when analyzing and reviewing the billing, disbursement, payroll, and financial reporting process. In addition, this course will also provide relevant discussions of the methodology and road map to conduct a process review, describe what is included within a transaction walkthrough, and assist an internal auditor in identifying potential red flags within these key accounting processes.

Learning Objectives
After completing this course, the course participant should be able to:

  • Recognize the overall mapping of accounting and financial reporting processes to significant accounts
  • List the common steps involved in a typical process review and analysis
  • Differentiate between the key aspects in a typical process flow
  • Identify the key steps involved in a walkthrough
  • Recognize red flags within the billing, disbursement, payroll, and financial reporting process
  • Recognize common findings within the billing, disbursement, payroll, and financial reporting process
    Catalog Number: 99CHA06
    CPE Credits: 2 Registry / 2 QAS
    Author: Anthony S. Chan, CPA
    Advanced Preparation:
    Course Level: Basic
    Field of Study: Auditing
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Aug 03, 2016 / Dec 31, 2020