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Risk Assessment Deep Dive: How to Avoid Common Missteps Logo aicpa

  $59.00 - 69.00 |   CPE: 3.5 |   AICPA |   11 Dec 2018 |   Auditing |   AICPA Store
Stay compliant.
Who Will Benefit?
  • Financial statement auditors and those part of the audit team involved in risk assessment and testing.
Key Topics

Misconceptions that are leading to non-compliance with AU-C Sections 315 and 330 related to the following:

  • Understanding the entity and its environment, including internal control
  • Assessing the risks of material misstatement
  • Performing audit procedures in response to assessed risks
Learning Objectives

Identify common misconceptions that are leading to non-compliance with AU-C Sections 315 and 330, as relates to:

  • Identifying risks relevant to the financial statement audit
  • Assessing your client's risks of material misstatements at the relevant assertion level using professional judgment
  • Determining responses to identified and assessed risks by selecting or designing further procedures
  • Recognize how the requirements in the standards should be applied

At the core of every audit are the goals of identifying, assessing and responding to risks of material misstatement. Yet, common misconceptions can lead to non-compliance. In this course, you'll learn about the most pervasive issues the Peer Review team has uncovered that you will want to avoid in your practice.

Please note: This self-study course is approved for Peer Review corrective actions.

Topics covered:
  • Management accounting: Technical: Risk management & internal control: Risk management policies & procedures, Foundational