How to Audit Prepaid Expenses

It is imperative that audit staff understand the fundamentals of prepaid expenses. This course will cover the basics of auditing prepaid expenses, including the related audit assertions, risks, & threats to the prepaid expense balance.

During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples.

Upon completion, learners will be able to:
1. Recall the audit assertions applicable to prepaid expenses
2. Recognize risks & threats related to prepaid expenses
3. Identify substantive auditing procedures that are used to obtain comfort over prepaid expenses