Surgent's Properly Identifying, Evaluating and Documenting Results of Presumed Risk Assessment Audit Procedures (IEDC)

Description

Recent auditing standards have emphasized the initial information gathered and important conclusions reached during risk assessment procedures to identify and evaluate risk of material misstatement in a financial statement audit. These important procedures provide the basis for determining how much effort will be invested in evaluating the design and implementation of internal controls. In addition, these procedures provide the rationale for effectively and efficiently designing the nature, timing and extent of further audit procedures (which includes tests of controls for operating effectiveness and substantive audit procedures).

Designed For

Anyone who performs or reviews risk assessment procedures on a financial statement audit