Practical AR audit work from risk mapping through misstatement conclusions under current U.S. standards
4 sections · 8 lessons
Define receivable assertions, assess inherent, control, and fraud risks, and design confirmations that fit the assessed risk under AU-C 505.
2 lessonsEvaluate nonresponses and exceptions, then test year-end cutoff and propose correcting entries for shipping and billing mismatches.
2 lessonsApply estimate testing to the ASC 326 allowance, then use aging and substantive analytics to focus detailed testing and reclass customer credit balances correctly.
2 lessonsExamine related-party and unusual receivables, then accumulate misstatements, assess materiality, and document final AR conclusions.
2 lessonsAccounts receivable audits start with knowing which balances, assertions, and risks deserve the most attention. This course builds a practical approach to nonissuer AR work under current U.S. standards, including confirmations, cutoff testing, credit-loss estimates, analytics, related-party scrutiny, and final misstatement evaluation. It is aimed at staff and senior auditors who need field-ready judgment, not theory for its own sake.
The course covers assertion mapping and risk assessment for receivables and related revenue streams, confirmation design and evaluation under AU-C 505, cutoff testing, and audit work on the ASC 326 allowance for credit losses under AU-C 540. It also covers aging analysis, substantive analytics, customer credit-balance reclassification, related-party and unusual receivables, and the accumulation, communication, and documentation of misstatements.
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Three findings from decades of learning research shaped how every Fenzo lesson is built.
Average pass rate · Freeman et al., PNAS 2014
What the science says
Students in lecture-only classes are 1.5× more likely to fail.
How Fenzo does it
Every Fenzo lesson is interactive. No passive reading or watching, ever.
You work through itAI does it for you
Skill retention over time · with vs. without practice
What the science says
Offloading thinking to AI erodes the very skills you’re trying to build.
How Fenzo does it
Fenzo makes you do the thinking — guided, but never done for you.
Retrieval practiceRe-reading
Long-term recall · retrieval vs. re-reading
What the science says
Recalling information beats re-reading it for building durable understanding.
How Fenzo does it
Lessons weave in quizzes and recall prompts, so it sticks.