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
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.