Introduction to the Audit Risk Model (On-Demand)

Description

This CPE course will explain the audit risk model and discuss how it is used at the onset of and throughout the audit process.

The audit risk model has a long history in auditing. Its importance has been heightened recently by efforts to assess the quality of audits and determine the sufficiency of audit procedures to achieve a low risk that a material misstatement might exist and be missed by the auditor during the audit process. The audit risk model is a tool that can help peer reviewers and inspectors determine the sufficiency of procedures performed. Engagement teams can do a better job of documenting their work when they consider the structure of the audit risk model and how evidence regarding procedures and findings is tabulated.

Learning Objectives
  • Recall the audit risk model and its elements and how the audit risk model combines risks to assess overall audit risk
  • Recall the relationship between audit strategy and the audit risk model
  • Identify the assertions used in auditing
Major Topics
  • What is the audit risk model?
  • Audit strategy
  • The key role of assertions
  • Using assertions in an audit
Provider
AICPA - Durham
Course Level
Basic
CPE Field of Study
Auditing
1.5
Who Should Attend
Recently onboarded staff
First-year staff
Firms that want consistent training and level setting
Prerequisites

None.

Advanced Preparation

None.

Register Now
When
Available 24/7
Location
TBD
Total CPE Credits
1.5
Format
On-Demand

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Introduction to the Audit Risk Model (On-Demand)


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