Risk Assessment Deep Dive: How to Avoid Common Missteps (On-Demand) 2021

Description

At the core of every audit are the goals of identifying, assessing and responding to risks of material misstatement. Yet, common misconceptions can lead to non-compliance. In this course, you’ll learn about the most pervasive issues the Peer Review team has uncovered that you will want to avoid in your practice.

Format: Video

Learning Objectives

Identify common misconceptions that are leading to non-compliance with AU-C Sections 315 and 330, as relates to:

  • Identifying risks relevant to the financial statement audit.
  • Assessing your client’s risks of material misstatements at the relevant assertion level using professional judgment.
  • Determining responses to identified and assessed risks by selecting or designing further procedures.
  • Recognize how the requirements in the standards should be applied.
Major Topics

Misconceptions that are leading to non-compliance with AU-C Sections 315 and 330 related to the following:

  • Understanding the entity and its environment, including internal control.
  • Assessing the risks of material misstatement.
  • Performing audit procedures in response to assessed risks.
Provider
AICPA - Durham
Course Level
Basic
CPE Field of Study
Auditing
3.5
Who Should Attend

Financial statement auditors and those part of the audit team involved in risk assessment and testing.

Prerequisites

None.

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When
Available 24/7
Location
Online
Total CPE Credits
3.5
Format
On-Demand

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Risk Assessment Deep Dive: How to Avoid Common Missteps (On-Demand) 2021


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