OasisLMS

Long-term debts decoded

You can learn about recognizing and measuring long-term debt by examining various topics, such as:

• Relevant professional standards
• Audit objectives and assertions
• Challenging issues related to presentation and disclosure

Long-term debt auditing mechanics

Knowing the more mechanical side of auditing debt is essential to your audits. You can gain an understanding of long-term debt auditing mechanics, including how to:

• Confirm balances
• Recalculate accrued interest
• Recognize interest expenses
• Draft working papers with sufficient appropriate evidence to support related financial statement disclosures

Learning Outcomes

• Recall the audit objectives and related assertions in the debt area.
• Identify the basic audit procedures over the debt process, including those surrounding risk and fraud.

Key Topics

• Relevant professional standards
• Audit objectives and assertions
• Risk assessment and commonly identified risks
• Common audit procedures

Who Will Benefit

• Recently onboarded staff
• First-year staff
• Firms that want consistent training and level setting