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2024 The Role of Internal Control in the Risk-Based Audit

Overview

This program explores the role of client internal controls for balancing efficiency and effectiveness in a risk-based audit. We offer practical insights regarding an auditor's assessment of the risk of material misstatement when auditing financial statements of non-issuers, with particular emphasis on internal controls of small-to-medium clients.

Prerequisites

Basic working knowledge of financial statements

Objectives

  • Identify minimum understanding and documentation requirements if the auditor does not intend to rely on internal controls
  • Recognize internal controls of less-sophisticated, small-to-medium sized audit clients
  • Utilize identified internal controls for an efficient, risk-based approach to audits conducted in accordance with generally accepted auditing standards
  • Document your procedures and related conclusions

Highlights

  • Specific matters auditors should consider when obtaining and documenting an understanding of the client's internal control system
  • Development of a tailored audit approach that considers the potential reliance on internal controls
  • Guidance for establishing an adequate basis for reliance on internal controls of less formal, smaller clients

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

6080217

4 CPE Credits
Auditing: 4 Credits

Registration

Member Price:
$129
Non-member Price:
$159

Registration is open through 01/03.

Friday, January 3rd

2:00pm to 5:37pm

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Instructor

Chris Harper