FASB – Assurance – Understanding the Entity and Its Environment 1.5 Credits
Assessing the Risks of Material Misstatement
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The Financial Accounting Standards Board (FASB) sets the standards that guide this assurance process, facilitating transparency and trust in financial markets. One critical aspect of assurance is understanding the entity and its environment while assessing the risks of material misstatement.
The auditor's objective is to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial statement and relevant assertion levels by understanding the entity and its environment, including the entity's internal control. This will provide a basis for designing and implementing responses to the assessed risks of material misstatement.
This course addresses the auditor's responsibility to identify and assess the risks of material misstatement in the financial statements through understanding the entity and its environment, including the entity's internal control.Â
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Join this CPE Course, whether you're a seasoned auditor or new to the assurance world, this course has something for you. So, grab your notepad and get ready to expand your knowledge on FASB, understand the entity and its environment, and assess the risks of material misstatement.
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.
An entertaining and informative speaker and trainer, Mike is the author of:
“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.
“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MK
Very informative and easy to follow the data provided
HK
excellent.
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