2024 The Role of Internal Control in the Risk-Based Audit

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  • Location
    • Your Computer
      Your Space
      ISCPA / ACPEN Webinar, ID 00000
  • Credits
    • 1.00
  • Credit Type(s)
    • Personal Development (1.00)
  • Prerequisites
    • Basic working knowledge of financial statements

  • Vendor
    • ACPEN
  • Level
    • Beginning
  • Fields of Study
    • Personal Development
  • Message
    • Virtual Experience

Description

This program explores the role of client internal controls for balancing efficiency and effectiveness in a risk-based audit. We offer practical insights regarding an auditor's assessment of the risk of material misstatement when auditing financial statements of non-issuers, with particular emphasis on internal controls of small-to-medium clients.



  • Presented by Summer Jelinek

    • Delivery Format: Live Webcast Replay

    Designed For

    CPAs in public practice or members in industry

    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

    Highlights

    • 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

    Advanced Prep

    None

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    Leaders

    ACPEN Panel

    No Biography Available

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