On-Demand

4 CPE Credits

The Role of Internal Control in the Risk-Based Audit

On-Demand
4 CPE Credits

This program addresses the role of client internal controls for balancing efficiency and effectiveness in a risk-based audit. Practical insights regarding an auditor's assessment of the risk of material misstatement when auditing financial statements of non-issuers will be explored, with particular emphasis on internal controls of small-to-medium clients. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives

  • Identify minimum understanding and documentation requirements if the auditor does not intend to rely on internal controls.
  • Recognize internal controls of less-sophisticated, small-to-medium sized audit clients.
  • Utilize identified internal controls for an efficient, risk-based approach to audits conducted in accordance with generally accepted auditing standards.
  • Document your procedures and related conclusions

Major Topics

  • Specific matters auditors should consider when obtaining and documenting an understanding of the client's internal control system
  • Development of a tailored audit approach that considers the potential reliance on internal controls
  • Guidance for establishing an adequate basis for reliance on internal controls of less formal, smaller clients

CPE Credits Available

4 CPE Credits
4
Auditing

Things to Know About This Course

Course Level

  • Intermediate

Prerequisites

Basic working knowledge of the audit process.

Advanced Preparation

None

Intended Audience

CPAs in public practice and members in industry.

Provider

CPA Crossings

Purchase This Course

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    $ 149 149
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  • MACPA Non-Member

    $ 220 220
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