This intermediate level course provides audit professionals with a practical, risk focused framework for auditing liabilities and debt—areas susceptible to understatement, incomplete disclosure, covenant violations, and complex accounting considerations. Participants will learn how to evaluate the recognition, measurement, classification, and disclosure of liabilities and debt in accordance with U.S. GAAP and PCAOB auditing standards.
Through real world examples, the course explores how to assess internal controls, identify fraud risks, and perform risk responsive substantive procedures, including confirmations, cutoff testing, search for unrecorded liabilities, and debt covenant compliance testing. Special emphasis is placed on auditing long term debt arrangements, leases, contingencies, and interest expense analytics, as well as evaluating management’s estimates and documentation.
By the end of this course, participants will be equipped with the audit strategies and professional skepticism needed to confidently audit liabilities and debt while improving overall audit quality and compliance.
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.