The AICPA has identified risk assessment as an area of focus for its Enhancing Audit Quality Initiative as deficiencies in auditor's risk assessment procedures continue to be a common issue identified in peer review. SAS No.
DESIGNED FOR
Practitioners who perform audit engagements
BENEFITS
After attending this presentation you will be able to...
- Recognize key risk assessment concepts applying to SAS No. 145 in identifying and assessing risks of material misstatement
- Determine the impact to the risk assessment process and the work to be performed
- Identify risk assessment procedures related to the various components of the entity’s system of internal control
- Recall how to scale risk assessment requirements to be effective and efficient, particularly for less complex entities
- Recall when and how to evaluate design and determine the implementation of controls
- Recognize risk assessment requirements to appropriately identify risks arising from the use of information technology (IT) and related general IT controls
- Identify potential risk assessment and related audit documentation traps
HIGHLIGHTS
The topics that will be covered in this class include:
- New concepts due to the issuance of SAS No. 145
- Revised requirement to separately assess inherent risk and control risk
PREREQUISITES
General knowledge of the risk assessment standards.
ADVANCE PREPARATION
None
 | Heather Trower |
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Pre-Registration Closed
Online pre-registration for this event is now closed.