After attending this presentation you will be able to...
- Recognize key risk assessment concepts applying to SAS No. 145 in identifying and assessing risks of material misstatement
- Determine the impact to the risk assessment process and the work to be performed
- Identify risk assessment procedures related to the various components of the entity’s system of internal control
- Recall how to scale risk assessment requirements to be effective and efficient, particularly for less complex entities
- Recall when and how to evaluate design and determine the implementation of controls
- Recognize risk assessment requirements to appropriately identify risks arising from the use of information technology (IT) and related general IT controls
- Identify potential risk assessment and related audit documentation traps