Webinar: Risk Assessment Under SAS No. 145: The Key to Audit Quality?
WC161 | Course | Basic | Scheduled
Description
The AICPA has identified risk assessment as an area of focus for its Enhancing Audit Quality Initiative as deficiencies in auditor's risk assessment p
Credits
| Number of Credits | Type of Credits |
|---|---|
| 2.00 | Auditing |
Designed For
Practitioners who perform audit engagements
Prerequisites
General knowledge of the risk assessment standards.
Highlights
The topics that will be covered in this class include:
- New concepts due to the issuance of SAS No. 145
- Revised requirement to separately assess inherent risk and control risk
- A new definition of significant risk
- New emphasis on IT controls and risk of material misstatement
- New guidance on maintaining professional skepticism
- Revised requirements to evaluate the design of certain controls
- Revised requirements regarding audit documentation
- New guidance on scalability
Objectives
After attending this presentation you will be able to...
- Recognize key risk assessment concepts applying to SAS No. 145 in identifying and assessing risks of material misstatement
- Determine the impact to the risk assessment process and the work to be performed
- Identify risk assessment procedures related to the various components of the entity’s system of internal control
- Recall how to scale risk assessment requirements to be effective and efficient, particularly for less complex entities
- Recall when and how to evaluate design and determine the implementation of controls
- Recognize risk assessment requirements to appropriately identify risks arising from the use of information technology (IT) and related general IT controls
- Identify potential risk assessment and related audit documentation traps
Preparation
None
Notes
Webinar Day - HELP and Assistance Instructions
- The session will open 30 minutes prior to the start time. At that time, you will receive a reminder email bringing you to your Attendee Dashboard and a link to join the webinar.
- We recommend you log in early to ensure you are ready to go when the presentation begins.
- IF YOU ARE HAVING TROUBLE LOGGING INTO THE WEBINAR, please call the CPA Crossings Customer Service Team at (877)-370-2220 Ext. #1.
Prices
- Member (Early Bird)
- $89.00
- Non-Member (Early Bird)
- $89.00
- Member
- $89.00
- Non-Member
- $89.00