Events Search
  Summary & Check Out (0)
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

4.0 CPE Credits in AA

OVERVIEW

Recent auditing standards and peer review feedback have emphasized the importance of performing an effective risk assessment when identifying and evaluating the risk of material misstatement in a financial statement audit. These risk assessment procedures include both evaluating the design and implementation of internal controls, as well as determining how much reliance an auditor will place on those controls. Further, the risk assessment process provides the rationale for effectively and efficiently designing the nature, timing, and extent of further audit procedures, be they testing the operating effectiveness of internal controls or the performance of substantive audit procedures. While this requirement of an effective audit hasn’t changed, the level of risk brought about due to emerging accounting and disclosure issues brought on by the pandemic coupled with the new ways we will be required to obtain the information to assess risk and internal control stressors on our clients, certainly has. This course will focus on how to utilize a risk-based approach in audit engagements to enhance audit quality, with an emphasis on how to comply with the professional requirements in a virtual environment. As auditors continue to struggle with effective and efficient execution of the Risk Assessment Standards, it’s likely these struggles will increase in the new virtual reality. This course will give you a jump start on determining how you can comply with professional standards as you and your clients adapt to new working conditions.

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 the 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
  • Assessing the impact on the assessment of internal controls in a changing work environment
  • 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.

PRICING

$189.00 - Member

$264.00 - Nonmember

Register Today


Note: Online pre-registration will close on June 10 at 8:30 AM.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent