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The Risk Assessment Standards require the auditor to understand and respond to risks of material misstatement, whether due to errors or fraud. In reaching that understanding, auditors should identify risks to the entity's business and the controls in place to mitigate them.
This course emphasizes the key requirements of the standards. It also provides an overview of the risk assessment process your overall audit response to assessed audit risk, and further audit procedures in response to those risks.
Prerequisite: 0-6 months experience
Advanced Preparation: None