2024 Risk Assessment - A Common Deficiency

Overview

The AICPA has determined than 1 in 10 firms are not compliant with the risk assessment standards. This course will discuss how to properly identify risks and assess risks under AU-C 315. We will then review how to respond to identified risks under AU-C 330. The course will focus on the inherent risk model. We will also review common deficiencies and how a proper risk assessment can drive a more efficient and effective audit.

Highlights

• Risk Assessment
• Common Deficiencies

Prerequisites

Prior experience with AU-C 315

Designed For

Accounting professionals

Objectives

• Recognize the audit risk model 
• Perform risk assessment procedures compliant with the audit standards

Preparation

None