Companion to PPC's Guide to Audits of Nonpublic Companies - Course 1 - Assessing Risks, Detailed Audit Plans, and Substantive Procedures (ASBTG201)  

Identify and assess risks of material misstatement at the relevant assertion level, as well as consider the risks of fraud.

Determine best practices for responding to risk assessment and preparing the detailed audit plan.

Identify which substantive procedures are required in every audit and appropriate methods for choosing substantive procedures for a particular engagement.

Determine best practices for the use of confirmation procedures, tests of details, and substantive analytical procedures.

Assess other issues related to substantive procedures, such as fraud risk and completion, and determine proper timing for performing the selected substantive procedures.