Course Content
Description: What would you do if you only had one workday to complete a financial statement audit? How would you optimize just a handful of hours? What would you test? More importantly, what would you minimize or eliminate? Although one day is unrealistically short, it illustrates how risk-based auditing can help auditors optimize professional effort. This course emphasizes the importance of risk assessment for enhancing both the effectiveness and efficiency of audit procedures.
Learning Objectives:
- Understand the audit risk model
- Perform risk assessments
- Identify significant risks
- Adopt a risk-based audit approach
Major Subjects:
- The audit risk model
- Risk assessment
- Linking risks to audit procedures
- Other responses to risks
- Documentation
Who should attend: CPAs in public practice who want to enhance the efficiency and effectiveness of their audits.
Program Level: Intermediate
Developed By: Van Der Aa Tax Ed, LLCc
Instructor: Chris Harper, CPA, MBA
CPE Credit: 1.5 hours
Field of Study: Auditing
Prerequisites: A basic understanding of financial statement audits.
Advanced Preparation: None
Christopher Harper, CPA, MBA
Chris is a CPA with the heart of a teacher. He is a clinical affiliate instructor of accounting with Grand Valley State University’s Seidman College of Business. He also serves as a senior manager and director of education for Hungerford Nichols CPAs + Advisors. Chris has been serving tax and accounting needs of closely held business and individuals since 1998.
Course materials are only available to students enrolled in the course.