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
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ISBN-13
978-1-941651-02-5 (9781941651025)
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Schweitzer Klassifikation
Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession s technical and ethical standards. The AICPA s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
