The Audit Risk Model ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Auditors use the audit risk model to determine the total amount of risk associated with an audit. In the Audit Risk Model course, we describe how this model works and how the auditor can use it to manage audit risk. We note situations in which the model indicates unacceptable audit risk, as well as cases in which expanded audit procedures can overcome these concerns. The risk auditing CPE course also addresses the concepts of audit evidence and audit sampling.
Highlights
The audit risk model. Outcomes of risk combinations. The reasonable assurance requirement. The nature of audit evidence. Sources of audit evidence. Evidence obtained from the work of others. The audit sampling process. The audit plan.
Prerequisites
None.
Designed For
Auditors, CPAs, CEOs, and other accounting professionals.
Objectives
Identify the type of audit evidence that an auditor needs to obtain. Specify the various sources of audit evidence. Recall how tests of controls are used. Specify the characteristics of statistical and nonstatistical sampling. Identify how attribute sampling is used.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00