Basic Staff Training: Auditing Expense Reimbursements
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
Are you a staff accountant planning on performing an audit on expense reimbursements? Whether you are a new auditor or just need a refresher on this topic this course is for you. We will review steps for planning an expense reimbursement audit, testing internal controls over expense reimbursements, conducting analytical procedures and performing substantive testing.
From an audit procedure standpoint this course will also focus on the techniques and documentation needs that a staff accountant needs to know. In addition, the course will offer practical advice to the staff accountant on conducting an audit of expense reimbursements.
Publication Date: February 2023
Topics Covered
- Review of Accounting Principles and Auditing Standards
- A Review of the Financial Statement Assertions
- Expense Reimbursements: Planning the Audit
- Auditing Expense Reimbursements: Relying on Internal Auditors Work
- Sampling
- Auditing Expense Reimbursements: Conducting Field Work
Learning Objectives
- Identify audit procedures for auditing employee expense reimbursements
- Recognize what would be least likely to impair an auditor's independence
- Identify what to do if you determined receipts were altered
- Describe what starts with the transaction record and verifies there is a corresponding source document
- Describe what an auditor would expect when applying Bendford's Law
- Recognize analytical procedure
- Identify common workpapers for an audit of expense reimbursements
- Recognize the materiality threshold for fraud
- Differentiate types of sampling
- Recognize red flags for expense reimbursement fraud
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
