Properly identifying, assessing, and responding to risk through a detailed audit plan is critical to an effective and efficient financial statement audit. This risk audit CPE course will emphasize the key concepts and best practices that drive a thoughtful risk-based approach to forming an opinion on the financial statements.
Learning Objectives
Upon completion of this course, participants will be able to:
Explain the importance of risk assessment to a high-quality audit;
Recall the audit risk formula, including how the elements relate;
Identify the steps and best practices of an effective risk assessment process; and
Link risk to a detailed audit plan.
