Applying the Risk Assessment Standards to Enhance Audit Quality

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
  1. Recall key concepts in the risk assessment standards, including various requirements.
  2. Recognize how to implement the standards in practice.
Major Topics
  1. Audit process and planning
  2. Setting materiality
  3. Assessing the design and implementation of internal controls
  4. Designing procedures to test the effectiveness of controls
  5. Designing procedures to perform substantive procedures
  6. Performing and evaluating interim and year end tests of control and substantive procedures
  7. Final audit procedures and wrap up
Provider
AICPA
Course Level
Basic
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Auditing
4.0
Who Should Attend
All auditors involved in applying risk assessment requirements
Instructor(s)
Melissa Critcher
Location
Online Course
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When
Dec 12, 2017
1:00 pm - 5:00 pm
Total CPE Credits
4
Format
Webcast
Instructor
Melissa Critcher

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Applying the Risk Assessment Standards to Enhance Audit Quality


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