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Auditing Bits in Bytes™ Session 4: Assessing and Responding to Risk
Management Accounting
CPE Self-study

Auditing Bits in Bytes™ Session 4: Assessing and Responding to Risk

This session focuses on how to appropriately identify, evaluate, document and respond to risks of material misstatement due to either fraud or error in order to effectively and efficiently design the nature, timing and extent of further audit procedures.

$75 - $90
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Auditing

Level

Basic

CPE Credits

2

Author(s)

Jennifer Louis

Availability

1 year

Product Number

BLI339790

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 Business & partner 
Product Details

Auditing Bits in Bytes™ - A Practical Break-Down of "Real World" Best Practices Applied in Highly Successful Audits is a series of eight individual sessions that guide professionals through the complete audit process from "A to Z" -- starting with Pre-Engagement Planning Activities, and going all the way through Wrap-up and Quality Control. Attempting to perform an effective and efficient audit can be intimidating and confusing, for new and experienced auditors alike. This series of eight individual segments will provide valuable tips and techniques from an experienced auditor that are needed to successfully design and perform financial statement audits in "real-life" circumstances. Extensive illustrative examples and exercises will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement.

This 2-hour session focuses on how to appropriately identify, evaluate, document and respond to risks of material misstatement due to either fraud or error in order to effectively and efficiently design the nature, timing and extent of further audit procedures (tests of controls for operating effectiveness and substantive audit procedures).

Who Will Benefit
  • Anyone who is new to auditing or desires a refresher in how to perform effective and efficient financial statement audits for non-issuers in accordance with professional and regulatory standards
Key Topics
  • Audit Risk Components: Inherent Risk, Control Risk, & Detection Risk - Understanding the underlying intent of each of the components, and key considerations in properly assessing and documenting the basis for conclusions
  • Identifying & Evaluating Risk - How to synthesize all the information gathered throughout the risk assessment process into a concise summary of risk assessment conclusions
  • Determining Significant Risks Requiring Special Audit Considerations - What differentiates this type of risk from other types of risks of material misstatement, and what that means in regards to the nature, timing and extent of further audit procedures
  • Engagement Team Discussion - Common deficiencies in the performance of this required important activity
  • Linking Assessed Risk of Material Misstatement to the Detailed Audit Plan - How judgment calls directly influence the effectiveness and efficiency of the detailed audit plan
  • Extensive illustrative examples will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement
Learning Outcomes
  • Describe how to properly identify, evaluate, document and respond to risks of material misstatement due to either fraud or error
  • Recognize best practices for effective and efficient engagement team discussions and other risk assessment activities
  • Identify how to link assessed risk of material misstatement to the design of the nature, timing and extent of further audit procedures
Credit Info
CPE Credits
Online
2
NASBA Field of Study
Auditing
Level
Basic
Prerequisites
None
Access
Online
This is a digital product. With full paid access the content will be available to you for 1 year after purchase date.
For more information, please refer to CPE requirements and NASBA sponsorship information
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$90.00
AICPA Members
Online
$75.00

Group ordering for your team

2 to 5 registrants

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

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Instructors
Jennifer Louis
CPA
Jennifer F. Louis, CPA has over 22 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003 she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. She currently resides in Charlotte, NC.
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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Auditing Bits in Bytes™ Session 4: Assessing and Responding to Risk
Select from the following options:
Online
$90.00
Nonmember Price
$90.00
Price excluding sales tax
$90.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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