Risk Assessment Today
Bolster the quality of your audits by further understanding risk assessment guidance and why the risk assessment process is so important. Learn how to improve audit quality by avoiding common challenges.
NASBA Field of Study
Carl R. Mayes Jr., Jennifer Burns
Identify the challenges of risk assessment
In today's environment, you need to prepare to handle the new and heightened risks of performing an audit. Compliance is key. Understand how to perform high-quality audit engagements by appropriately identifying and responding to the risks of material misstatement.
In this webcast, you'll learn to recognize common, reoccurring challenges — many identified through the peer review process — and learn how to avoid or overcome them.
- Misconceptions leading to noncompliance 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
- Recognize the importance of understanding the risk model and risk assessment process to perform a quality audit in accordance with the standards.
- Identify the requirements of the auditing standards when naming risks relevant to the financial statement audit.
- Recall the techniques to evaluate the probability of identified risks.
- Determine how to properly respond to risks.
Who Will Benefit
- Practitioners who perform audit engagements
Group ordering for your team
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