Audit Staff Training for New Senior Accountants—Part 3, Assessing Risk: In-person and Remotely 

CPE Credit: 2 hours

LEARNING OBJECTIVES:
• Learn how to gather information to begin the risk assessment process by reviewing prior year working papers.
• Understand the components of risk of material misstatement at the financial statement level and their effects on substantive auditing procedures.
• Understand the components of audit risk and their effects on substantive auditing procedures.
• Learn to identify risks at the financial statement level and at the assertion level by assessing levels of risk of material misstatement.
• Apply professional judgment and professional skepticism to identify and respond to risks from employees of reporting entities and CPA firms that are working remotely.