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Thursday, June 10, 2021 Live Webcast

Performing an Effective Audit Risk Assessment in the COVID-19 Environment (E2106112)

9:00 AM - 12:30 PM EDT

Registration: 8:30 AM EDT

webcast

Vendor Platform

4 CPE Credits in AA

OVERVIEW

Recent feedback from peer reviewers and regulators has emphasized the importance of performing an effective risk assessment to identify and evaluate the risk of material misstatement in a financial statement audit. Risk assessment procedures include obtaining an understanding of the entity, performing preliminary analytical procedures, making fraud inquiries, evaluating the design and implementation of internal controls, and determining how much reliance an auditor will place on those controls.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

All auditors involved in applying the risk assessment requirements

BENEFITS

  • Recall key concepts in the risk assessment standards, including various requirements
  • Recognize how to implement amendments to the existing standards in practice
  • Identify approaches to comply with professional standards while auditing in a virtual environment

HIGHLIGHTS

  • Audit process and planning
  • Setting materiality
  • Assessing the risk of material misstatement and the design and implementation of internal controls
  • Designing procedures to test the effectiveness of controls
  • Designing procedures to perform substantive procedures
  • Challenges in performing audit procedures in a virtual environment
  • Performing and evaluating interim and year-end tests of control and substantive procedures
  • Final audit procedures and wrap up

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Michael Morgan

Michael J. Morgan, CPA

Michael J. Morgan is President of Langford Educational Enterprises, Inc., a consulting firm specializing in international auditing and taxation located in Griffin, Georgia. An accomplished author and instructor with over 35 years of experience in public speaking, Morgan has traveled internationally, writing manuals, and conducting seminars on accounting- and auditing-related topics for former communist countries. He is the recipient of several “Outstanding Discussion Leader” awards from the New York, Illinois, Nevada, and Virginia Society of CPAs on the topics of accounting and auditing, staff training, governmental, and not-for-profit entities. For several semesters, he was an accounting instructor in the School of Business at Old Dominion University located in Norfolk, Virginia. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. Morgan currently practices in the greater Atlanta, Georgia, area. Morgan is licensed as a Certified Public Accountant in Georgia, Virginia, and New York. He is a past member of the Virginia Society of CPAs. He is a member of the Georgia Society of CPAs and the Association of Certified Fraud Examiners.