In their simplest form, auditing investments can be as easy as agreeing a per-share price to a listed market price and addressing the presentation issues related to fair value, and you're done. From there, however, it is only a short step into the complex world of today's investment vehicles. Auditors must not only be familiar with the definitions of terms such as interest rate swaps, put options, and embedded derivatives, but must also possess a thorough understanding of the associated risks.
In this CPE module, we will gain an understanding of the types of investments most commonly encountered and the terminology that goes with them. After a review of the risks and the risk assessment process surrounding investments, the specific requirements of the auditing standards and common audit techniques used to mitigate those risks will be addressed.
Delivery Method: Self Study
CPE Credit: Auditing
Program Level: Intermediate