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 and 2021. 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 review the need for small businesses to disclose information on PPP and EIDL loans. 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 2022
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
- Understanding of auditing notes and disclosures, specifically notes and disclosures to COVID-19 issues, government shutdown issues, and civil unrest issues
- Review the notes and disclosures to the financial statements
- Discuss what accountants and auditors should consider when writing and reading the notes, disclosures, and Management Discussion & Analysis (MD&A)
- Discuss audit procedures that would allow the auditor to detect a material misstatement in the notes & disclosures from errors or fraud
Learning Objectives
- Identify considerations related to the COVID-19 pandemic for financial statement notes and disclosures
- Recognize which information might be suitable for the disclosure, but generally is not required to be disclosed
- Describe which financial statement assertions only relates to account balances
- Recognize a disclosure consideration with respect to an entity's nature of operations
- Describe the area of finanical statement disclosures the topics of surety bonds relates to
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
Basic understanding of auditing and preparing financial statement disclosures.
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.