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
Pre-Registration Closed Online pre-registration for this event is now closed.