Risk Assessment - The Foundation of an Audit (X2-20817)

• 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

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