Applying the Risk Assessment Standards to Enhance Audit Quality

Date: December 12, 2017 Time: 1:00 pm - 5:00 pm EST Location: Online CPE: 4 Format: Webcast
EVENT DESCRIPTION

The purpose of this course is to teach auditors how to utilize a risk based approach within their engagements to enhance audit quality. Auditors continue to struggle with effective and efficient execution of the Risk Assessment Standards. Common deficiencies include an over-reliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit procedures to the risks they are designed to address. The AICPA Peer Review team continues to see common audit deficiencies relating to risk assessment.

LEARNING OBJECTIVES
Recall key concepts in the risk assessment standards, including various requirements.
Recognize how to implement the standards in practice.
MAJOR TOPICS
Audit process and planning
Setting materiality
Assessing the design and implementation of internal controls
Designing procedures to test the effectiveness of controls
Designing procedures to perform substantive procedures
Performing and evaluating interim and year end tests of control and substantive procedures
Final audit procedures and wrap up
EVENT DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing Practitioner
CPE FIELD OF STUDY
Auditing (4.0 Credits)
WHO SHOULD ATTEND
All auditors involved in applying risk assessment requirements
INSTRUCTOR(S)
Melissa Critcher
COURSE LEVEL
Basic
LOCATION
Online Webcast
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