- NY Credits : 4.0
- TX Credits : 4.0
Risk-based auditing is the methodology that is used when performing public company audits. The underlying principles to risk-based auditing are assessing risks and materiality. This course explains how to assess risks of material misstatements and then how to alter audit procedures at the assertion level. This basic level course is most beneficial to professionals new to this topic who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this topic.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
describe the concepts of planning as they relate to conducting an audit,
summarize the nuances of audit planning as they are in the PCAOB standards,
describe the concepts of materiality in the course of planning and performing the audit and as a basis for further stages of the audit,
describe the auditor's responsibilities for performing risk assessment procedures, and
describe the elements of actions that should be taken when risks of material misstatement are encountered.