Overview
The AICPA has determined that one in ten audit firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risk under AU-C 315. We will then review how to respond to identified risks under AU-C 330. The course will focus on the audit risk model and cover both inherent risk and internal controls. We review common deficiencies and how a proper risk assessment drives a more efficient and effective audit.
Prerequisites
None
Objectives
- Recognize the audit risk model
- Perform risk assessment procedures compliant with the audit standards
Highlights
- Risk Assessment
- Internal Controls
- Common Deficiencies
