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Risk Assessment Standards: Applied to Audits of Smaller, Less Complex Entities

Author/Moderator: Richard Gesseck, CPA and Madeleine Sparf, MS, MBA, CPA
Publisher: AICPA
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Previously titled: Applying Risk Assessment Standards to Smaller Business Audits

Review critical audit risk assessment requirements and examine detailed examples and models that demonstrate how such requirements may be implemented in practice. Obtain valuable resources that enable auditors to scale documentation of risk assessment and other procedures for audits of financial statements specifically to suit the needs of smaller, less complex entities. These examples and models may be applied to audits of both commercial and not-for-profit entities.

Topics Discussed:

  • Examples and Models of Smaller, Less Complex Entities
  • Scaling Documentation for Eliminating Documentation Redundancy
  • Assessing Risk
  • Substantive Procedures
  • Updating Interim Tests
  • Evaluating Misstatements
  • Final Overall Analytical Review
  • Assembling the Audit Documentation for Filing

Learning Objectives:
This course describes and discusses in full detail the risk assessment requirements, demonstrates how to implement them in practice, and apply them to smaller, less complex entities.

Prerequisite: None

Advanced Preparation: None

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NASBA Field of Study: Auditing
Level: Basic
Recommended CPE Credit: 8
Risk Assessment Standards: Applied to Audits of Smaller, Less Complex Entities
Product# 733577
Availability: In Stock ? Low Inventory
AICPA Member:$165.00
Your Price:$206.25
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