Product Image

Special Considerations in Auditing Financial Instruments - Audit Guide

Publisher: AICPA
Availability: Varies by Format (See Below)
See Below To Add To Cart
View Online Catalog
Divider
Print This Page
Divider
Available Formats:  Online Subscription | eBook | Paperback | See All

Entities of all sizes may be subject to risks of material misstatement when using financial instruments. This Audit Guide provides an in-depth understanding of financial instruments, as well as practical assistance for auditors who want to develop an effective audit approach to address such risks.

Detailed implementation guidance is provided for assessing an entity’s internal control and responding to the risk of material misstatement, as well as guidance on reporting considerations. The implementation guidance is provided in a series of case studies to help you understand and apply the concepts specific to financial instruments, including the use of service organizations and accounting for hedging activities.

Key Benefits Include:

  • Discussion on voluntary disclosures regarding fair value information (new for this edition!)
  • Guidance on the complexities surrounding the valuation of financial instruments, as well as key presentation and disclosure considerations
  • Detailed case studies to show practical applications on classification of financial instruments, use of work of others, embedded derivatives, interest rate swaps and put options.
  • Understanding how to effectively use work performed by a service organization

Updates:

In addition to covering auditing standards to address all areas of the audit, the following standards are discussed in greater detail throughout this guide to address audit considerations unique to financial instruments:

  • AU-C section 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures
  • AU-C section 315, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
  • AU-C section 500, Audit Evidence
  • AU-C section 501, Audit Evidence – Specific Considerations for Selected Items
eBook , 2014
Product# AAGAFI14E
Availability: eBook Download
Regular:$85.00
AICPA Member:$69.00
Your Price:$85.00
To receive your AICPA member discount, Sign In now, or Register using your AICPA membership number.