About this Course
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. In a continuation of Part 1 of this course, you will be shown how to use your understanding of the client and its internal control design to assess risk and design an appropriate audit response. You'll also learn how to evaluate audit results.
- Gaining an understanding of the entity's internal controls
- Designing procedures of internal controls
- Use of risk assessment in planning testwork
Who will it benefit?
These courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work through additional areas more independently.