With the Auditing Standards Board's recent major updates to risk assessment, a critical area in auditing, professionals face the impending challenge of adapting to these changes, which are soon to become a primary focus in peer reviews. This risk auditing CPE course, led by Jeff Sailor with his unique and engaging presentation style, tackles this imminent transition. The auditing CPE explores the urgency and complexity of understanding and implementing the new risk assessment requirements, particularly the emphasis on proper documentation. As a solution, the audit CPE course offers a comprehensive exploration of the updated standards, ensuring participants are fully equipped for the upcoming changes. Jeff's signature video parodies, incorporated into the course, not only make learning more enjoyable but also reinforce the material effectively. This auditing CPE is a must for auditors seeking to stay ahead in their field, ensuring readiness for the new risk assessment requirements and potential peer review scrutiny.
Learning Objectives
Upon successful completion of this course, the participant should be able to:
Identify the new focus areas for risk assessment in an audit
Apply the standards for preparing proper documentation
Describe the potential peer review issues
Major Topics
Understanding the Entity and its Environment, and the Applicable Financial Reporting Framework
Understanding the Components of the Entity's System of Internal Control
Considerations for Understanding IT
Identifying and Assessing the Risks of Material Misstatement
