ACPEN: Risk Wrangling: Surviving the Modern Business Rodeo

Overview

Risk-based factors are becoming exponentially important considerations for accountants in both public practice and industry. We examine the nature of risks for today’s enterprises while exploring the role of internal controls for mitigating business risks. We also explore SAS 145 and other guidance aimed at risk considerations for professional engagements. Public and private accountants will enhance their capabilities for assessing and addressing risks faced by today’s organizations.

Highlights

• Risk is the common thread in an evolving landscape
• Risk assessment
• Responding to assessed risks
• Auditing standards
• Other insights from AICPA guidance
• Fraud considerations
• The role of analytics
• Financial reporting considerations
• Risk mitigation

Prerequisites

Basic working knowledge of financial statement reporting and business processes

Designed For

Accountants in public practice and industry who need to identify, evaluate, and respond to risks encountered in business and professional circumstances

Objectives

• Identify ways that risks influence the professional ecosystem
• Use professional guidance to make risk-based decisions
• Determine novel risks created by fraudulent behaviors
• Apply analytical procedures to expose risks
• Identify risk-related considerations associated with financial reporting
• Formulate strategies for reducing the consequences of identified risks

Preparation

None