2024 Risk Assessment & Internal Control

Overview

The AICPA has determined that one in ten audit firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risk under AU-C 315. We will then review how to respond to identified risks under AU-C 330. The course will focus on the audit risk model and cover both inherent risk and internal controls. We review common deficiencies and how a proper risk assessment drives a more efficient and effective audit. 

Highlights

• Risk Assessment
• Internal Controls
• Common Deficiencies

Prerequisites

None

Designed For

Accounting professionals

Objectives

• Recognize the audit risk model 
• Perform risk assessment procedures compliant with the audit standards

Preparation

None