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
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.