Considering COVID-19 in Financial Statement Disclosures (Currently Unavailable)

Author: Robert K Minniti

CPE Credit:  2 hours for CPAs

Are you up to speed on the requirements for writing and auditing disclosures and notes to the financial statements? This course is designed for individuals who would like to obtain a better understanding of auditing notes and disclosures, specifically notes and disclosures to COVID-19 issues, government shutdown issues, and civil unrest issues that occurred in 2020. We will review the notes and disclosures to the financial statements and discuss what accountants and auditors should consider when writing and reading the notes, disclosures, and Management Discussion & Analysis (MD&A). We will discuss audit procedures that would allow the auditor to detect a material misstatement in the notes & disclosures from errors or fraud.

Publication Date: February 2021

Designed For
CPAs, CMAs, CIAs, CGMAs, internal auditors, external auditors, managers, CFOs and others responsible for preparing or auditing financial statement notes and disclosures.

Topics Covered

  • Requirement for Notes and Disclosures
  • A Review of the Financial Statement Assertions
  • Notes & Disclosures
  • COVID”19 Loans
  • Other Common Disclosures

Learning Objectives

  • Identify considerations related to the COVID”19 pandemic for financial statement notes and disclosures
  • Identify audit procedures for COVID-19 notes and disclosures
  • Differentiate FASB Conceptual Statements provides information relating to the notes to financial statements
  • Identify a financial statement assertion applicable to both presentation and disclosure as well as transactions and events
  • Identify information to be disclosed with respect to lines of credit


Instructional Method

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
Basic understanding of auditing and preparing financial statement disclosures.

Advance Preparation

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