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How to Audit Under the New Leasing Standard

HOW TO AUDIT UNDER THE NEW LEASING STANDARD

This course is designed for practitioners in public practice who conduct audits of privately-held organizations that have adopted ASC Topic 842.
Cost $25.00
Presentation Length 2.0 hours

Recorded DateOctober 20, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelIntermediate
Course Description

The revised effective date for private companies’ adoption of the new leasing standard (ASC Topic 842, Leases) is now January 1, 2022! Question: Will you be prepared to audit such transactions properly?

This session is designed to provide external auditors with practical and insightful perspectives on how to audit transactions under the Financial Accounting Standards Board’s (FASB) new leasing standard. You'll learn the latest accounting and financial reporting requirements and how to substantively and analytically test them in accordance with professional standards.

Topics Covered:

  • Learning about the new leasing standard (ASC Topic 842, Leases), particularly the FASB's new take on how operating leases will now be recognized on the balance sheet as well as the new presentation, disclosure requirements, practical application, and how to audit them properly

Learning Objectives:


  • Define the FASB’s new leasing standard requirements

  • Identify and discuss the new accounting and reporting requirements of leases

  • Determine which audit procedures to perform

  • Determine how to properly audit the transition requirements and initial adoption of the new standard

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Salvatore A. Collemi, CPA, is the Managing Member & Founder of Collemi Consulting & Advisory Services, LLC. Mr. Collemi brings more than two decades of experience with U.S. and international financial reporting and professional standards, corporate governance and risk management practices of public accounting firms.

About Our Presenter

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Collemi Consulting & Advisory Services, LLC provides trusted technical accounting and auditing expertise when you need it the most. Serving a full range of constituents in the public accounting profession, we help identify issues before they become problems.