Understand your professional responsibilities when performing risk assessment procedures. The American Institute of Certified Public Accountants (AICPA) issued Statements on Auditing Standards (SASs) No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, along with other related SASs. Participants who attend this course will learn about the new, revised, and enhanced requirements.
Learning Objectives
Upon completion of this course, you will be able to: • Recognize the risk assessment procedures.
• Identify inherent risk factors.
• Recall guidance addressing technology, the assessment of control risk and the regulatory environment.
• Identify audit documentation requirements.
Major Topics
Learn about the risk assessment procedures needed to understand an entity’s system of internal control, inherent risk factors, and audit documentation requirements.