What would you do if you only had one workday to complete a financial statement audit? How would you optimize just a handful of hours? What would you test? More importantly, what would you minimize or eliminate? Although one day is unrealistically short, it illustrates how risk-based auditing can help auditors optimize professional effort. This course emphasizes the importance of risk assessment for enhancing both the effectiveness and efficiency of audit procedures. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
After attending this presentation, you will be able to...
- Use the audit risk model
- Perform risk assessments
- Identify significant risks
- Adopt a risk-based audit approach
The major topics covered in this course include:
- The audit risk model
- Risk assessment
- Linking risks to audit procedures
- Other responses to risks