Self-Study

Surgent's Identifying and Evaluating Audit Risk (Audit Skills Training - Level 3) (A3M3)

  • Wednesday, May 1, 2019 – Thursday, April 30, 2020

  • 3
    CREDITS
    Auditing

Properly identifying, assessing and responding to risk through a detailed audit plan is critical to an effective and efficient financial statement audit. This module will emphasize the key concepts that drive the risk-based audit process.

Objectives

  • Explain the importance of risk assessment to a high quality audit
  • Describe the audit risk formula, including how the elements relate
  • Discuss the steps of an effective risk assessment process
  • Link risk to a detailed audit plan

Highlights

  • Overview of the risk-based audit process
  • How the 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

Additional Information

Designed For

Accountants who must identify, assess and respond to risk through a detailed audit plan on a financial statement audit.

Vendor

Surgent

Advanced Preparation

None

Prerequisite

Familiarity with SASs and FASBs

Field of Study

Auditing

Course Number

1925339

Level of Knowledge

Intermediate

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