This foundational course provides early‑career auditors with a clear, practical understanding of how to plan and perform an effective audit of accounts receivable. Participants will learn the full audit lifecycle for this critical financial statement area—from understanding the receivables cycle and evaluating internal controls to applying analytical procedures and performing substantive testing in alignment with U.S. GAAS and PCAOB standards.
Real‑world examples and guided scenarios will help learners identify common risks, indicators of fraud, and issues affecting collectability. The course also highlights documentation expectations, best practices, and the growing use of technology and data analytics to detect anomalies and enhance audit quality.
By the end of the course, attendees will be equipped to design and execute audit procedures that respond directly to identified risks, strengthen the evidence gathered, and support high‑quality audit conclusions for accounts receivable.
Publication Date: March 2026
Designed For
This course is designed for new and developing audit professionals who need practical, step‑by‑step training in auditing accounts receivable.
Topics Covered
- Accounts receivable cycle: key processes, risks, and audit implications
- Internal controls over accounts receivable: evaluation and testing
- Analytical procedures for receivables, revenue, and collections
- Substantive testing: confirmations, cutoff, aging analysis, subsequent receipts testing
- Fraud risk indicators in receivables and revenue recognition
- Using data analytics to identify anomalies and assess collectability
- Documentation best practices and common audit pitfalls
- Case studies for new audit staff: practical audit scenarios
Learning Objectives
- Explain the accounts receivable cycle and its impact on financial reporting and audit risk
- Identify common risks, fraud schemes, and red flags associated with accounts receivable
- Evaluate and test internal controls related to billing, collections, credit approval, and adjustments
- Design and perform substantive procedures responsive to specific risks, including confirmations, cutoff tests, and searches for unrecorded transactions
- Apply analytical procedures and data‑driven techniques to detect unusual trends or inconsistencies
- Document audit procedures, evidence, and conclusions in accordance with professional standards
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.