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.
Practitioners who perform audit engagements