Overcome the challenges commonly faced when conducting risk assessment in conjunction with SAS No. 145.
Learning Objectives
- Recall why risk assessment is important.
- Recognize the areas where practitioners may struggle.
- Identify the major differences in risk assessment under SAS No. 145 and why they were incorporated by the Auditing Standards Board.
- Recognize the practical impact to the risk assessment process and the work to be performed.
Major Topics
- Risk assessment under SAS No. 145
- Overview of the steps to perform during risk assessment
- Testing the design, implementation, and operating effectiveness of controls
- New concepts due to the issuance of SAS No. 145
