How to Audit Receivables

2 Credits: Auditing


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How to Audit Receivables

Course Level
CPE Credits

2 Credits: Auditing

Course Description

Many organizations sell goods and services to their customers on a delayed payment basis, usually because doing so is the accepted practice within their industries. This practice results in accounts receivable, which may form a substantial part of the total assets of a firm. In, How to Audit Receivables, author Steven Bragg examines the characteristics of receivables from an auditing perspective and notes the auditing activities that can be applied to the receivables area, including the allowance for doubtful accounts and notes receivable.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the characteristics of notes receivable.
  • Note the different types of related parties.
  • Cite the types of fraud related to receivables.
  • Describe the process of risk assessment used by an auditor.
  • Recognize when alternative audit procedures should be used.
  • Recognize the substantive procedures used in relation to receivables.
  • Describe the contents of a confirmation letter.
  • Note the circumstances under which a negative confirmation could be used.

Chapter 2

  • Recognize the contents of the allowance for doubtful accounts.

Chapter 3

  • Note the proper accounting for a note receivable.
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Course Specifics

Course ID
Revision Date
September 22, 2023

There are no prerequisites.

Advanced Preparation


Compliance Information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg Headshot

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 250 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …

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