2024 Instant Audit? Just Add Risk Assessment

Overview

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.

Highlights

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

Prerequisites

A basic understanding of financial statement audits

Designed For

Public accountants who perform audits or employees of organizations who are subject to audits

Objectives

• Understand the audit risk model
• Perform risk assessments
• dentify significant risks
• Adopt a risk-based audit approach

Preparation

None

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).