Auditing for Revenue Recognition
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
This online course provides auditors and accounting professionals with a clear, practical, and up-to-date understanding of how to evaluate revenue recognition under current FASB standards. Because revenue is one of the highest-risk areas in financial reporting—and a frequent source of material misstatement-auditors must be equipped to assess compliance with ASC 606, evaluate internal controls, and design effective audit procedures tailored to complex revenue streams.
In this course, participants will walk through core revenue-recognition concepts, learn how to identify risk areas, and review the audit procedures necessary to obtain sufficient appropriate evidence. The course emphasizes real-world application, including how to evaluate contracts, test performance obligations, assess variable consideration, and identify fraud risks related to revenue. Attendees will also gain an understanding of relevant auditing standards and documentation expectations to strengthen audit quality and ensure compliance.
Publication Date: March 2026
Designed For
This course is ideal for professionals responsible for auditing, evaluating, or overseeing revenue‑recognition processes.
Topics Covered
- Overview of revenue‑recognition requirements under FASB ASC 606
- Audit standards and auditor responsibilities related to revenue
- Designing and performing revenue‑recognition audit procedures
- Evaluating contracts, performance obligations, and transaction price
- Testing internal controls over revenue and identifying fraud risks
- Documentation requirements and best practices for supporting audit conclusions
Learning Objectives
- Identify key revenue-recognition requirements
- Apply appropriate audit procedures to evaluate revenue transactions and disclosures
- Identify relevant audit standards governing revenue-recognition testing
- Evaluate risks of material misstatement related to revenue and design targeted responses
- Analyze contracts, performance obligations, and variable-consideration components during an audit
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
