Webinar (AICPA): Risk Assessment During the Recovery

Description

The Coronavirus pandemic (COVID-19) has presented new and heightened risks for businesses, making the audit risk assessment all the more important. The key to high-quality audit engagements is rooted in appropriately identifying and responding to the risks of material misstatement. However, more than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team found that nearly half of the engagements reviewed failed to comply with AU-C Sections 315 or 330. In this webcast, you will learn about the most pervasive risk assessment issues the Peer Review team has uncovered and how to avoid them in your practice. You will also learn how to properly assess risk affecting clients during the COVID-19 pandemic.

Important Note: If you have been assigned this course as a Peer Review follow-up action, the self-study version (https://future.aicpa.org/cpe-learning/course/risk-assessment-during-the-recovery-sso) of this course should be taken, unless otherwise directed by your Administering Entity.

Learning Objectives

*Identify the most common challenges auditors encounter with respect to AU-C Sections 315 and 330 *Recall the intent of the standards and how the requirements should be interpreted *Recognize practical application of the standards in audits of small- to medium-sized entities *Identify and access helpful resources to support quality performance

Major Topics

*Misconceptions leading to non-compliance with AU-C Sections 315 and 330 *Understanding the entity and its environment, including internal control *Assessing the risks of material misstatement *Performing audit procedures in response to assessed risks *New risks to consider as a result of the COVID-19 Pandemic

Provider
AICPA - Durham
Course Level
Basic
CPE Field of Study
Auditing
2
Who Should Attend

Practitioners who perform audit engagements

Instructor(s)
Robert Dohrer Carl Mayes
Prerequisites

none

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Nov 9, 2021
11:00 am - 1:00 pm MDT
Location
Webinar
Total CPE Credits
2
Format
Webinar

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Webinar (AICPA): Risk Assessment During the Recovery


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