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Tuesday, October 19, 2021 Live Webcast

Performing an Effective Audit Risk Assessment in the COVID-19 Environment (X1-RAC4-2021-01-WEBNR-292-01)

9:00 AM - 12:30 PM 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.

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

Margaret Thomas

Margaret Shaw Thomas, CPA, CGMA, MHA

Marci Thomas, MHA, CPA, CGMA, licensed as a CPA in Georgia and North Carolina, is an author and nationally recognized speaker on various accounting and auditing topics to companies, nonprofits, CPA firms, and state societies of CPAs around the country. A frequent speaker at local, regional, and national conferences, she also writes and teaches courses in governance, financial management, grants accounting, strategy, and various operational topics. Marci is a clinical assistant professor in the School of Public Health at the University of North Carolina at Chapel Hill. She works with numerous accounting firms, performing quality control and efficiency reviews; and with boards on strategic planning, internal control, and governance issues. Marci serves on the Not-for-Profit Committee for the North Carolina Association of CPAs. Marci has written and co-written several books, including Essentials of Physician Practice Management, published by Jossey Bass in 2004. Her book Best of Boards: Sound Governance and Leadership for Nonprofit Organizations was published by the AICPA and Wiley Publishing in 2018 and is on its second printing. Her book on health care financial management was published by Wiley Publishing in 2014, with a new edition expected in 2020. Marci received her Bachelor in Business Administration with a concentration in accounting from the Georgia State University and her Masters in Health Administration from the University of North Carolina at Chapel Hill.

PRICING

$169.00 - Member

$189.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent