Companion to PPC's Guide to Audits of Nonpublic Companies - Course 2 - Risk Assessment Procedures and Planning (ASBTG202)  

Recognize what risk assessment and other planning procedures are necessary to audit a nonpublic company.

Determine the best way to obtain an understanding of the audit client and its environment.

Determine how to obtain an understanding of the audit client's internal control.

Recognize how to obtain an understanding of the audit client's entity-level controls.

Identify and obtain an understanding of the audit client's activity-level controls.

Identify the planning decisions and judgments that an auditor must make when auditing a nonpublic company.

Determine the auditor's responsibilities related to fraud, laws, and regulations when auditing a nonpublic company and recognize how to plan an appropriate audit time estimate.