Assessing and Responding to Audit Risk in a Financial Statement Audit – AICPA Audit Guide [Subscription]

Assessing and Responding to Audit Risk in a Financial Statement Audit will assist practitioners in applying the auditing standards related to the assessment of risk in an audit of financial statements.

This guide provides both authoritative and non-authoritative guidance on applying the audit risk standards and addresses, among other things:

• Key concepts underlying the auditor's risk assessment process,
• Planning and performing risk assessment procedures,
• Understanding the client, its environments and its internal control,
• Linking risk assessment and the design of further audit procedures,
• Performing further audit procedures, and
• Evaluating audit findings, audit evidence and internal control deficiencies.
• In addition, the guide offers many useful appendixes and an in-depth illustrative case study.
• Plus, the existing Audit Guide titled Consideration of Internal Control in a Financial Statement Audit has been incorporated into this new guide.

Online Subscription > AICPA RESOURCE: Accounting & Auditing Literature Your subscription includes the corresponding Audit Risk Alert, content updates and unlimited online access for 1 year. AICPA RESOURCE: Accounting & Auditing Literature - your core accounting and auditing library online - is now customizable to suit your preferences, or your organization's needs. Click here for more information.