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Technical

Experienced Staff/New In-Charge - Auditing Intangible Assets and Goodwill Logo aicpa

  $79.00 - 99.00 |   CPE: 1.0 |   AICPA |   Aug 2017 |   Auditing |   AICPA Store
Who Will Benefit?
  • Experienced staff
  • New in-charge auditors
Key Topics
  • Accounting for intangible assets and goodwill
  • Auditing intangible assets
  • Auditing goodwill
  • Risk assessment
  • Common audit procedures
  • Documentation
Learning Objectives

This course will prepare you to do the following:

  • Identify intangible assets and goodwill and the appropriate accounting for each type.
  • Recall the audit objectives and related assertions in the area of intangible assets and goodwill.
  • Identify basic processes, controls, and audit procedures in the intangible assets and goodwill area, and identify weaknesses and possible solutions.
  • Recall the common audit procedures surrounding intangible assets and goodwill and demonstrate mastery through a commonly encountered audit situation.

This CPE course can be purchased individually or as part of the Audit Staff Essentials - Experienced Staff/New In-Charge staff training bundle.

Poor goodwill! Let's face it, goodwill is the plug number resulting from a business combination or, said differently, it's what remains after identifying and separately recognizing assets and liabilities acquired in a business combination. It has no real value. What's that? You disagree? Find a lender who will lend on goodwill, and I will change my position. There has likely been no other accounting area that has been subject to the constant tinkering that goodwill has.

In this CPE course, we will review the accounting for intangible assets and the history and current accounting for goodwill. Further, the module will address the common risks, internal controls, and auditing procedures for intangible assets and goodwill.

Topics covered:
  • Management accounting: Technical: Risk management & internal control: Risk management policies & procedures, Foundational
  • Management accounting: Technical: Risk management & internal control: Internal control, Foundational
  • Assurance: Technical: Audit, Foundational
  • Assurance: Technical: Audit, Intermediate

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