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Technical

Applying the Risk Assessment Standards to Enhance Audit Quality Logo aicpa

   Melissa G. Critcher, CPA |   Free |   AICPA |   26 Jan 2018 |   Auditing |   AICPA Store

The purpose of this webcast is to teach auditors how to utilize a risk based approach within their engagements to enhance audit quality. Auditors continue to struggle with effective and efficient execution of the Risk Assessment Standards. Common deficiencies include an over-reliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit procedures to the risks they are designed to address. The AICPA Peer Review team continues to see common audit deficiencies relating to risk assessment.

Topics Discussed

  • Audit process and planning
  • Setting materiality
  • Assessing the design and implementation of internal controls
  • Designing procedures to test the effectiveness of controls
  • Designing procedures to perform substantive procedures
  • Performing and evaluating interim and year end tests of control and substantive procedures
  • Final audit procedures and wrap up

Learning Objectives

When you complete this webcast you will be able to:

  • Recall key concepts in the risk assessment standards, including various requirements.
  • Recognize how to implement the standards in practice.

Important Information on Your CPE Credit

Discounts

Group Viewing Option

Gather the team together and attend this webcast as a group. Each attendee will earn CPE Credit. Enter the number of attendees in the quantity box above.

Number of Attendees Non-Member Member

1 - 4

$199 $159

5 - 9

$179 $145

10 - 20

$169 $135

21 +

$159 $129

Your order confirmation will include an instruction document for group viewing and earning CPE credit (please review prior to the start of the event) and information on how to access the webcast.

Topics covered:
  • Employee benefit plan auditing: Technical: Defined contribution plans: Audit risk assessment, Foundational
  • Employee benefit plan auditing: Technical: Defined contribution plans: Internal controls/service organizations, Foundational
  • Employee benefit plan auditing: Technical: Defined benefit plans: Audit risk assessment, Foundational
  • Employee benefit plan auditing: Technical: Defined benefit plans: Internal controls/service organizations, Foundational
  • Employee benefit plan auditing: Technical: Health & welfare plans: Audit risk assessment, Foundational
  • Employee benefit plan auditing: Technical: Health & welfare plans: Internal controls/service organizations, Foundational
  • Governmental auditing: Technical: Government financial statement audit, Foundational
  • Assurance: Technical: Audit: Audit risk assessment, Foundational

Comments/Reflections