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21WC-0506: Risk Assessment Compliance Standards When Auditing Privately-Owned Companies (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Friday, September 17, 2021
10:00am - 1:30pm Central Time
4 CPE (4 technical)

Auditors identify and assess the risks of a material misstatement by understanding the entity and its environment. Privately-owned companies present unique challenges. We'll examine issues such as: Do identifiable controls exist? Do owners/managers promote compliance with company policies? Do owners/managers document controls and communicate them to staff? Are these controls observable? Can they be tested for operating effectiveness? Do owners/managers monitor employee performance andĀ evaluate the controls in place?

Major subjects

  • Review of applicable auditing standards for risk assessment
  • Identification and discussion of high-risk audit areas
  • Discussion and analysis of control risk vs. inherent risk
  • Practical approach to auditing companies where controls are minimal or not adequately documented
  • Detailed discussion and examples of risk assessment procedures and alternative approaches

Learning objective(s)

  • Please add objectives using the following verbs.
  • Recognize high-risk areas applicable to private companies
  • Determine the best approach to deal with private company shortcomings in control activities
  • Identify the appropriate risk assessment procedures in the circumstances

Who should take this program?

CPAs

Fees

Our records indicate you are a nonmember. If you register, you will be charged $199.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $149.00
checkmark Standard Nonmember Fee $199.00

More program information

Location Online
Area
of study
Accounting & audit
Field(s)
of study
Auditing - Technical (4.0)
Level Basic
Format Group Internet Based
Sponsor CalCPA Education Foundation
NASBA ID#: 104822
Prerequisites Prereq. None
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.