Audit 202: Applying Audit Risk to the Detailed Audit Plan
April 8, 2025
Webinar
2 CPE
Instructor
Jennifer Louis
Audit 202: Applying Audit Risk to the Detailed Audit Plan
View Bio
Instructor
Jennifer
Louis
View Bio
Jennifer Louis
Bio
Jennifer F. Louis, CPA
Jennifer F. Louis, CPA has over 14 years of experience in designing and presenting high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success. In 2003, she co-founded Emergent Solutions Group, LLC, a consortium of professionals serving organizations on a project or part-time basis, to create a division dedicated to training services. She was most recently Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including Vice President of Product, and instructor and consultant for the firm's Audit Productivity Improvement ProgramTM and various other training courses. She also co-authored a manual on value-added auditing.
Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm's Washington, D.C. office, she served as an instructor for the firm's national "Train the Trainers" program.
Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting. She is also a member of several prestigious professional associations.
Best Practices for Identifying and Evaluating Audit Risk
Linking Risk to the Detailed Audit Plan will emphasize the key concepts and best practices that drive a thoughtful risk-based approach to forming an opinion on the financial statements. Properly identifying, assessing, and responding to risk through a detailed audit plan is critical to an effective and efficient financial statement audit. Note: This course is recommended as a part of a 16-hour audit skills curriculum for experienced staff, while it is also appropriate for anyone who has the need to better understand how to link risk assessments to the detailed audit plan. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
Upon completion of this course, you will be able to...
Recall the importance of risk assessment to a high-quality audit
Recognize the audit risk formula, including how the elements relate
Identify the steps and best practices of an effective risk assessment process
Link risk to a detailed audit plan
Major Topics
The major topics covered in this course include:
Overview of a risk-based audit process
How the individual elements of the audit risk formula interrelate
Emphasis on overall risk, fraud risk, and control risk
Linking the assessed risk of material misstatement to the detailed audit plan
Documenting risk assessment conclusions and responses
CPE Credits Available
2 CPE
2
Auditing
Things to Know About This Course
Course Level
Basic
Professional Area of Focus
A&A
Advanced Preparation
None
Intended Audience
Accountants who must identify, assess and respond to risk through a detailed audit plan on a financial statement audit.
