Best Practices for Identifying and Evaluating Audit Risk – Linking Risk to the Detailed Audit Plan

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Best Practices for Identifying and Evaluating Audit Risk – Linking Risk to the Detailed Audit Plan

Learning Objectives

To explain the importance of risk assessment to a high-quality audit.
To describe the audit risk formula, including how the elements relate.
To recognize and discuss the steps and best practices of an effective risk assessment process.
To identify and link risk to a detailed audit plan.

Course Description

The need for a company's financial statements to be audited by an independent external auditor has been a cornerstone of confidence in the world’s financial systems.

For an efficient and effective audit plan, it is important to

Properly identify the risk
To assess the risk identified, and
Respond to the risk

Risk assessment is the identification and evaluation of several aspects of an entity whereby risks are identified and evaluated for use in guiding the audit procedures that will be necessary to substantiate the amounts reported in the financial statements.

This CPE/CPD webinar is a guide for auditors on how best to assess risks when planning audit work.

Major topics covered in this Auditing Webinar are:

Benefits of the Risk-based Focus
Overview of the Risk Assessment Process
Identifying Risk assessment activities
ISA 315 New Concepts
Overview of Audit Risk Model
Critical elements of entity and environment that impact risk
Fraud Triangle
Documenting risk assessment conclusions and responses

Join this online CPE course as it will emphasize the key concepts and best practices that drive a thoughtful risk-based approach to form an opinion on financial statements.

Webinar Qualifies For

2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
2 CPD Credit of Auditing for CPA in Canada
2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
2 CPE Credit of Audit Risk for Certification in Risk Management Assurance (CRMA)
2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
2 CPD Credit for Association of Chartered Certified Accountants (ACCA)
2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
2 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
2 CPD Credit for Chartered Accountant - ICAEW
2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
2 CPE Credit of Risk Management for Certified Internal Controls Auditor (CICA)
2 CPD Credit for Chartered Accountants - Scotland
2 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
2 CPD Credit for CPA - Ireland
2 CPD Credit for Chartered Accountants - Ireland (CAI)
2 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)
2 CPE Credit of Risk Management for Certified Controls Specialist (CCS)

About Instructor

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.6

Excellent

Very Good

Average

Poor

Terrible

Sandy Petty, CPA (US), HRCI, SHRM

This program is great - I really enjoyed it. I also enjoyed some of Jennifer's anecdotes. She discussed certain risks.

ENFI

E Nelson Fleming Ii, CPA (US), Doc. of Law

Presentation was excellent. Material presented in a manner related tge standards to practice.

Mary Averill, CPA (US)

Very informative. Instructor did a great job presenting the information.

Karen Railey, CPA (US)

Informative and I enjoyed the puns.

Payam Darian, CPA (US)

good course; technical but logical

2 Credits

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Auditing

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Best Practices for Identifying and Evaluating Audit Risk – Linking Risk to the Detailed Audit Plan

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Jennifer Louis, CPA (US)

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.6

Sandy Petty, CPA (US), HRCI, SHRM

E Nelson Fleming Ii, CPA (US), Doc. of Law

Mary Averill, CPA (US)

Karen Railey, CPA (US)

Payam Darian, CPA (US)

Subject Area

Unlimited Access Plan

Inclusions

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