Audit Risk Assessment in Plain English
Saturday, June 07, 2025
Webcast or Webinar, Online
9:00 AM - 10:46AM (opens at 8:30 AM) EST
2Credits
Accounting and Auditing
Registration is Open
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$79.00 Regular Price
Non-Members
$109.00 Regular Price
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Course Type: Webcast
Course Code: 25/AC754450
Level: Basic
Vendor: ACPEN
Field of Study: Auditing
Overview:
Audit Risk Assessment in Plain English, is a 2 hour webcast highlighting the AICPA’s clarified risk assessment standards, along with a new Statement on Auditing Standard (SAS 145) related to understanding the entity, the entity’s environment, the entity’s internal controls, and assessing the risks of material misstatement. This session will attempt to simplify the requirements using common sense examples and language.
Objectives:
- Understand the AICPA's clarified risk assessment standards and their importance in the auditing process.
- Familiarize oneself with the key components of the new Statement on Auditing Standard (SAS 145) related to understanding the entity, the entity's environment, the entity's internal controls, and assessing the risks of material misstatement.
- Develop an understanding of the relationship between audit risk assessment and the overall audit strategy.
Major Topics:
- Overview of Audit Risk Assessment
- AICPA's clarified Risk Assessment Standards
- SAS 145
- Assessing the Entity's Environment
Major Topics:
- Overview of Audit Risk Assessment
- AICPA's clarified Risk Assessment Standards
- SAS 145
- Assessing the Entity's Environment