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Technical

Internal Control and Risk Assessment: Key Factors in a Successful Audit Logo aicpa

  Lynford Graham, CPA, PhD, CFE |   $149.00 - 189.00 |   CPE: 8.0 |   AICPA |   Jun 2017 |   Auditing |   AICPA Store
Enhance your understanding
Who Will Benefit?
  • Practitioners responsible for or involved in financial statement audits
Key Topics
  • The requirement to assess internal control
  • COSO's integrated framework
  • Internal control as a part of risk assessment
  • Testing internal controls and controls reliance
  • The use of a service organization in the context of an entity's system of control
  • IT general control and application controls
  • Documenting the control assessment
  • Assessing and communicating deficiencies
  • Efficient and effective practices
Learning Objectives:
  • Recall the professional requirements relating to internal control considerations in a financial statement audit, including their relationship to risk assessment.
  • Recognize how to implement the requirements in practice.

Under generally accepted auditing standards (GAAS), all auditors are required to follow a risk-based approach to auditing. The consideration of internal control is key to risk assessment and to the determination of the overall audit approach.

Featuring a new case study and updates from the risk assessment guide, this CPE course will enhance your understanding of internal control and risk assessment. You will learn the requirements in a financial statement audit to understand internal control and assess the design and implementation thereof.

To help you get it right, this course also features exercises designed to illustrate how the concepts apply to practical audit situations.

Topics covered:
  • Assurance: Technical: Audit: Audit risk assessment, Intermediate
  • Assurance: Technical: Audit: Internal control, Intermediate
  • IT management & assurance: Technical: IT risk & assurance services: IT controls, Intermediate

Comments/Reflections