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Auditing Complex Investment Types (Audit Skills Training - Level 5) (A5M3)

  • Format Self-Study Webcasts
  • Credits 3
  • Level Advanced
  • Field of Study Auditing (Technical) (3)

Overview

Entities may have more complex investments, such as non-readily marketable securities that trade in an inactive market or use unobservable inputs for fair value determination. This module discusses the key considerations when auditing common complex investment types.



Major Topics:

  • The fair value measurement process, including non-readily marketable securities
  • Auditing fair value measurement and disclosure, including alternative investments and complex derivatives
  • Using a specialist for fair value determination, including Service Organization Control Report considerations
  • Example accounting for complex derivatives, such as put options and embedded derivatives
  • Fair value hierarchy considerations for disclosures related to non-readily marketable investments

Learning Objectives:

  • Discuss types of non-readily marketable securities
  • Describe fair value modeling techniques for Level 3 assets
  • Explain the requirements when using the work of a specialist or Service Organization Control Reports in auditing investments
  • Describe fair value presentation and disclosure for complex investments

Who should take this course:

Accountants who account for or audit more complex or non-readily marketable securities

Experience on complex audit engagements

None

No

No

No

QAS Approval Surgent IRS Approval Surgent CFP Approval Surgent CTEC Approval Surgent
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