22WX-2662: Risk Assessment for Small Business Audits (Webinar)

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

Friday, December 23, 2022
3:00pm - 5:00pm Central Time
2 CPE (2 technical)

Auditing standards require auditors to assess risk--including controls--and use that assessment as a foundation for performing the audit. Risk assessment is not just a technical GAAS requirement, it has a direct impact on realization. Audit teams that perform a thorough risk assessment are more likely to have high realization engagements than those who go through the motions.

This course is designed for small business audit teams. It addresses the risk assessment procedures and responsibilities for each team member and how they fit together to create more effective and efficient audits.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Major subjects

• Understanding the client's business and industry in which it operates
• Internal control
• Assessing the magnitude and likelihood of risk
• Linking risk assessment to substantive audit procedures

Learning objective(s)

• Identify characteristics of the client's business and industry that are most relevant for assessing audit risk
• Identify the client's key controls and assess their ability to mitigate risk 
• Link the elements of the risk assessment model to an overall assessment of risk and the design of further audit procedures.

Who should take this program?

Individual auditors and audit teams who wish to improve the effectiveness and efficiency of their engagements. Audit firms that have identified weaknesses in their audit risk assessment process.

Fees

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