Webcast: Applying the Risk Assessment Standards to Enhance Audit Quality (XACL4RAAQ18)
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The purpose of this webcast is to teach auditors how to utilize a risk based approach 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 over-reliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit procedures to the risks they are designed to address.

1/24/2018
When: 01/24/2018
8:00 AM until 12:00 PM
Where: Webcast
AICPA
1433566:02194CF24F79F659EE879FCA275994A5
United States
Presenter: Melissa Critcher


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Acronym XACL4RAAQ18
CPE 4 hours
Vendor AICPA
Category
A&A
Level Basic
Prerequisite None
Adv Prep None
Yellow Book? No
Registration Fees
Members* $159
CPA Non-Members $199

*The member rate applies to LCPA members, other state CPA 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 webcast is to teach auditors how to utilize a risk based approach 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 over-reliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit procedures to the risks they are designed to address. The AICPA Peer Review team continues to see common audit deficiencies relating to risk assessment.

Objectives

  • Recall key concepts in the risk assessment standards, including various requirements.
  • Recognize how to implement the standards in practice.

Major Topics

  • Audit process and planning
  • Setting materiality
  • Assessing the design and implementation of internal controls
  • Designing procedures to test the effectiveness of controls
  • Designing procedures to perform substantive procedures
  • Performing and evaluating interim and year end tests of control and substantive procedures
  • Final audit procedures and wrap up

Note: Login instructions will be provided by the webcast vendor (AICPA).