Audit 202: Applying Audit Risk to the Detailed Audit Plan
2.00 Credits
Member Price $89
Non-Member Price $109
Overview
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.
Highlights
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
Prerequisites
None
Designed For
Accountants who must identify, assess and respond to risk through a detailed audit plan on a financial statement audit.
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
Preparation
None
Leader(s):
Leader Bios
Jennifer Louis, Business Learning Institute
Jennifer F. Louis, CPA, has more than 18 years of experience in designing and instructing high-quality training programs. In 2003 she formed Emergent Solutions Group, LLC, serving organizations by providing training services on a project-specific or parttime basis.
Most recently, Ms. Louis was executive vice president / director of trainingServices at AuditWatch, Inc., a premier training and consulting firm serving the audit profession. She began her career at AuditWatch as vice president of product development. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP.
Ms. Louis also was an audit manager for Deloitte & Touche LLP. During her years at Deloitte & Touche’s Washington D.C. office, she was a frequent local and national instructor. She also served as an
instructor for the firm’s national “Train the Trainers” program.
Non-Member Price $109
Member Price $89