LF logo
by learnformula
search
Log in
search
Courses/Audit & Assurance/Internal Audit

Audit Testing Procedures: Current Assets

Learn which Audit Procedures are possible to adopt to test Current Assets and how to perform them step-by-step

Created byMarco Mk
4.7
(35 reviews)
IntermediateUpdated Jun 8, 2025
Audit Testing Procedures: Current Assets

What You'll Learn

check_circlePerform inventory testing procedures including count observation, pricing, and obsolescence.
check_circleAudit accounts receivable using confirmations, roll-forward analysis, and bad debt provisions.
check_circleTest cash and cash equivalents through bank confirmations and reconciliations.
check_circleReconcile and validate related party balances, including intercompany transactions.

About This Course

This hands-on course teaches students how to perform audit testing on key current asset account balances, including inventory, accounts receivable, cash and cash equivalents, and related party transactions. Led by Mk, the founder of HAW – How Audit Work and an experienced Big4 auditor, the course provides detailed, practical instruction drawn from nearly a decade of international audit experience.

Students will learn how to conduct inventory counts, confirm deposits, test cut-off procedures, and assess pricing and obsolescence. The course also covers audit techniques for receivables, including confirmation responses, alternative procedures, bad debt assessments, and factoring. Cash testing procedures such as bank confirmations and reconciliations are also addressed, along with intercompany reconciliations for related parties. This course is ideal for those seeking practical audit skills in real-world contexts.

Your Instructor

Marco Mk
Marco Mk

Audit Expert at Big 4 Audit Firm

menu_book8 courses
star354 reviews

Dear Professional, after almost 10 years of experience in Big4 audit firms I decided to share my knowledge with you, together with some colleagues of mine. I worked in different Big4 audit firm performing audit of international companies in the manufacturing, holding and finance sector in different countries as US, UK, Netherland and Italy. The content created has an operative approach, with detailed guidance step-by-step, to let people learn on the spot how to perform audit procedures (for auditor) and understand how an audit is performed (for everyone else). The courses are in english and guided by the founder of HAW - How Audit Work that is an organization that provide audit related services, including teaching.

Credit Information

What Students Are Saying

4.7
Student's Choice
35 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.