Applying The Risk Assessment Standards FLEXCAST

Overview

This course takes an in-depth exploration of the information gathering process and documentation of the Risk of Material Misstatement that is required under Generally Accepted Auditing Standards (GAAS). The linkage of the Risk of Material Misstatement to the generation of the audit program is also discussed.

Highlights

Risk Assessment Standards. Entity and its Environment. Understanding and Documenting Internal Control. Assessing the Risk of Material Misstatement. Linking Audit Procedures to Risk Assessment.

Prerequisites

None.

Designed For

CPAs, controllers, accountants, financing professionals, business owners, and managers.

Objectives

Identify the risk assessment process as defined by GAAS. Cite the process of understanding the entity and its environment. Identify the key elements of properly documenting the internal control of the entity.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.