Instant Audit? Just Add Risk Assessment!

Description

What would you do if you only had one workday to complete a financial statement audit? How would you optimize just a handful of hours? What would you test? More importantly, what would you minimize or eliminate? Although one day is unrealistically short, it illustrates how risk-based auditing can help auditors optimize professional effort. This course emphasizes the importance of risk assessment for enhancing both the effectiveness and efficiency of audit procedures.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this course include:

• The audit risk model
• Risk assessment
• Linking risks to audit procedures
• Other responses to risks
• Documentation

Objectives

After attending this presentation, you will be able to...

• Use the audit risk model
• Perform risk assessments
• Identify significant risks
• Adopt a risk-based audit approach

Designed For

CPAs in public practice who want to enhance the efficiency and effectiveness of their audits.