Audit Standards Update: Clarifying Risk Assessment

Course Details

Date

Thursday, January 16, 2020

6:30am – 2:00pm
(Registration: 6:00am)

Field of Study

Auditing (Governmental)

Course Number

4191060F

CPE Credit

8.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

CalCPA Education Foundation

Prerequisites

A working knowledge of audit standards is beneficial but not critical.

Description

Recognize the impact of AICPA's Clarity Project for audits. Determine how this affects your practice and identify the additional procedural changes requiring firm implementation.

With peer review results in and more than a few years' worth of experience under the profession's collective belt, it's time to fine-tune implementation of the risk assessment standards. These standards, designed to eliminate the connect-the-dots methodology of checklist auditing and add critical thinking back into the audit process, remain a problem area for many firms. The result? Engagement and peer review deficiencies.

This course has been updated for the AICPA Clarity Standards that expanded the risk assessment methodology to new additional audit areas. Break down this complex and misunderstood subject with an easy-to-understand approach.

Highlights

  • Assessing the risk of material misstatement.
  • Mandatory risk assessment procedures.
  • Evaluating internal controls.
  • Responding to risk assessment with appropriate audit procedures.
  • Complying with revised and expanded documentation requirements.

Objectives

  • Understand the audit risk model.
  • Determine how the standards affect your audit practice.
  • Identify additional procedural changes requiring firm implementation.
  • Determine an implementation plan and the procedural and documentation requirements embodied in these standards.
  • Recognize the impact of enacted changes resulting from the AICPA Clarity Project.

Designed For

Auditors and industry CPAs.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$245.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$375.00
Your Price $375.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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