Accounting & Auditing Under the New Leasing Standard
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 properly audit such transactions?
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 new accounting and financial reporting requirements and how to substantively and analytically test them in accordance with Professional Standards.
Explain the FASB’s new leasing standard requirements
Describe and discuss the new accounting and reporting requirements of leases
Discuss which audit procedures to perform
How to properly audit the transition requirements and initial adoption of the new standard
Learning about 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 and disclosure requirements, practical application, and how to properly audit them
Who Should Attend
Practitioners in public practice who conduct audits of privately-held organizations who have adopted ASC Topic 842.
Fields of Study
General knowledge of ASC Topic 842 and AICPA Professional Standards
Business Learning Institute
This course is available for your group as:
To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.