Webcast: Internal Control: How Does It Impact an Audit? (XAAUIC317)
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The purpose of this course is to help auditors utilize a risk-based approach along with a controls assessment within their engagements to enhance audit quality. Auditors continue to struggle with effective and efficient execution of the Risk Assessment Standards. Common deficiencies include an overreliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit risks to internal controls over financial reporting. The AICPA Peer Review team continues to see

 Export to Your Calendar 12/19/2017
When: 12/19/2017
8:00 AM until 12:00 PM
Where: Webcast
AICPA
1376856:1FE531F1C705BA931B08A6D128935DD1
United States
Presenter: Lynn Fountain


Online registration is available until: 12/17/2017
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Acronym XAAUIC317
CPE 4 hours
Vendor AICPA
Category
Auditing
Level Basic
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for Auditors who face the challenges of applying the risk assessment requirements
Registration
Member $159
CPA Non-Member $199

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

The purpose of this course is to help auditors utilize a risk-based approach along with a controls assessment within their engagements to enhance audit quality. Auditors continue to struggle with effective and efficient execution of the Risk Assessment Standards. Common deficiencies include an overreliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit risks to internal controls over financial reporting. The AICPA Peer Review team continues to see common audit deficiencies relating to these issues. Make sure you are in full compliance with all of today’s standards!

Topics

  • Audit process and planning
  • Assessment of the risk of material misstatement and the design and implementation of internal controls utilizing the 2013 revised COSO framework
  • Procedures to test the effectiveness of controls
  • Sampling and non-sampling tests to support the state audit objective
  • Severity of controls deficiencies
  • Required communications

Objectives
When you complete this course you will be able to:

  • Recall key concepts in the risk assessment standards, including various requirements related to internal controls assessment.
  • Recognize common implementation issues and solutions.