Risk Assessment Today
This course will review the risk assessment standard requirements and discuss the importance of risk assessment in the current environment. It will help you to improve audit quality by avoiding common challenges.
Format
Online
NASBA Field of Study
Auditing
Level
Basic
CPE Credits
3.5
Availability
1 year
Product Number
RAEAQ22SSO
Note: This CPE product addresses risk assessment guidance as required by SAS No. 122, Statements on Auditing Standards: Clarification and Recodification. SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, is effective for audits of financial statements for periods ending on or after December 15, 2023.
For CPE addressing risk assessment under SAS No. 145, please see the webcast “Risk Assessment Under SAS No. 145” and the self-study course “Applying and Scaling Audit Risk Assessment Procedures Under SAS No. 145.”
Peer Review issues
Several engagements continue to fail to comply with the risk assessment standards. Learn about the most pervasive risk assessment issues the Peer Review team has uncovered and how to avoid them in your practice.
Common problems and solutions
Review the most common problems faced during risk assessment and how to overcome them.
Key Topics
- 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
Learning Objectives
- Identify significant elements of the current Enhancing Audit Quality (EAQ) initiative
- Recall the most recent developments in the Peer review Program
- Recognize common reviewer feedback items
Who Will Benefit
- Auditors of non-public entity
- Internal auditors in non-public entities
- Peer reviewers
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
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