Description

When the "new" risk-based audit standards came out, the profession apparently concluded that audit risk was a new concept. This resulted in most firms over implementing those new standards which added significant time to the audit with little or no perceived benefit. This session works to take the mystery out of the standards and offers suggestions for the practical application of audit standards for smaller lower risk audits to maximize efficiency, while maintaining and/or improving the audit quality.

Comments from CPAs who have attended Al's program on "Audit Excellence":

"Very Knowledgeable"
"Excellent"
"Thank you, your presentation was wonderful & timely"
"Very good - more realistic for small companies"
"Alan Anderson was a wonderful presenter.  The class kept at a consistently fast pace, kept me interested. Great!"
"Very good"
"One of the best thought provoking conferences I have attended in a very long time."
"Good info!  Thank you"
"We should and will implement some of his suggestions to become more efficient at what we do"

Highlights

This Al Anderson original will cover the following:

1. Overview of the auditors dilemma:  FORMS "R" US
2. Characteristics of small low risk audit clients
3. Linkage of audit standards to smaller audit clients
4. Rethinking the risk assessment process
5. A practical approach to understanding internal controls, including IT controls.
   This will include a flowchart to help with the decision of when to document and how much to document
6. Observations and suggestions to improve the planning process
7. Observations and suggestions to improve fieldwork
8. Observations and suggestions to minimize wrap up time
9. How can I implement some of these concepts?
10. Wrap up and conclusion
11. Q&A
    

Objectives

This session works to take the mystery out of the standards and offers suggestions for the practical application of audit standards for smaller lower risk audits to maximize efficiency, while maintaining and/or improving the audit quality.