Risk Assessment - The Foundation of an Audit

Description

This course focuses on the AICPA audit quality challenges related to audit risk assessment including the risk assessment model and identifying, assessing and responding to audit risks. The session also provides an in-depth review of the audit risk assessment process, examples of potential risk areas and sample tailored responses. Key changes proposed by the AICPA Audit Standards Board project on risk assessment will be discussed.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this class include:

• AICPA Audit Quality Initiative audit risk assessment findings and areas of focus
• AICPA Audit Standards Board audit risk assessment project

Objectives

After attending this presentation you will be able to...

• Understand the risk assessment process
• Provide specific examples and resources that firms can use to ensure compliance with important standards
• Understand the risk assessment deficiencies commonly noted in connection with peer review
• Ensure that audit work is tailored to the key audit risks and in compliance with the AICPA audit risk assessment standards

Designed For

CPAs in Public Practice