Risk Assessment During the Recovery

Description

The Coronavirus pandemic (COVID-19) has presented new and heightened risks for businesses, making the audit risk assessment all the more important. The key to high-quality audit engagements is rooted in appropriately identifying and responding to the risks of material misstatement. However, more than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team found that nearly half of the engagements reviewed failed to comply with AU-C Sections 315 or 330.In this webcast, you will learn about the most pervasive risk assessment issues the Peer Review team has uncovered and how to avoid them in your practice. You will also learn how to properly assess risk affecting clients during the COVID-19 pandemic.

Date/Time

Tuesday, August 17, 2021
Registration Time: 12:00pm
12:00pm – 2:00pm

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Course Type

On-line Live Vendors

CPE Credit

2.00 hours CPE credit

Field of Study

Auditing

Level of Knowledge

Basic

Designed For

Practitioners who perform audit engagements

Vendor

AICPA

Prerequisites

none

Advanced Preparation

None

Highlights

 Misconceptions leading to non-compliance with AU-C Sections 315 and 330  Understanding the entity and its environment, including internal control  Assessing the risks of material misstatement  Performing audit procedures in response to assessed risks  New risks to consider as a result of the COVID-19 Pandemic

Objectives

 Identify the most common challenges auditors encounter with respect to AU-C Sections 315 and 330  Recall the intent of the standards and how the requirements should be interpreted  Recognize practical application of the standards in audits of small- to medium-sized entities  Identify and access helpful resources to support quality performance

Location

N/A (This is a webcast)
Member Fee $99.00
Non-Member Fee $119.00
Your Price $119.00
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