Mobile Edition


Audit Standards Update: Clarifying Risk Assessment (4171060E)

 
Date:Wednesday, January 10, 2018
Time:9:30 AM - 5:30 PM
(Registration at 9:00 AM)
Facility:Webcast or Webinar, Online
CPE Credit:8.0 Accounting and Auditing
Vendor:California CPA Education Foundation
Course Level:Intermediate
Early Bird Price:Not applicable or see below.

Description:

With peer review results in and more than a few years' worth of experience under the profession's collective belt, it's time to fine-tune implementation of the risk assessment standards. These standards, designed to eliminate the connect-the-dots methodology of checklist auditing and add critical thinking back into the audit process, remain a problem area for many firms. The result? Engagement and peer review deficiencies.

This course has been updated for the AICPA Clarity Standards that expanded the risk assessment methodology to new additional audit areas. Break down this complex and misunderstood subject with an easy-to-understand approach.



Objectives:
  • Understand the audit risk model.
  • Determine how the standards affect your audit practice.
  • Identify additional procedural changes requiring firm implementation.
  • Determine an implementation plan and the procedural and documentation requirements embodied in these standards.
  • Recognize the impact of recently enacted changes resulting from the AICPA Clarity Project.


Major Topics:
  • Assessing the risk of material misstatement.
  • Mandatory risk assessment procedures.
  • Evaluating internal controls.
  • Responding to risk assessment with appropriate audit procedures.
  • Complying with revised and expanded documentation requirements.


Who Should Attend:

Auditors and industry CPAs who require an in-depth understanding of the assertion-based approach to audit risk assessment.



Prerequisite:
A working knowledge of audit standards is beneficial but not critical.

Advanced Preparation:
None.

Session/Options

If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.