Surgent’s Identifying and Evaluating Audit Risk (Audit Skills Training – Level 3) (A3M3) (SSAA17/19)

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Event Description

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.

Designed For

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

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

Major Subjects

  • 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

Prerequisites

Familiarity with SASs and FASBs

Instructions

When you purchase a Surgent CPE on-demand course, it must be taken by June 30, 2019, to receive credit.
Within 5 minutes after your purchase, you will receive an email from info@surgent.com that explains how to access your course and materials.
Once you complete a course, please allow up to 30 days to receive you certificate of completion.
If you have further questions, please email info@surgent.com or call 800.778-7436. Their help lines are staffed Monday-Friday from 8:30 am to 5 pm Eastern Time.