Course Information

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The Risk Assessment Standards: A Comprehensive Review
Author: Perry M. Henderson, CPA, MPA

Description:
The “Risk Assessment Standards" represent the most sweeping change to auditing practice in the last 20 years. They consist of eight new Statements of Auditing Standards (SASs 104 through 111). This course summarizes these new Standards and their requirements, explores some of the emerging implementation issues, and offers some practical directions and tools for moving forward. Subjects covered in this course include:

  • The new philosophical concepts embodied in the Risk Assessment Standards.

  • How to use relevant assertions in the financial statements to assess risk of material misstatement.

  • The linkage between audit procedures and risk assessment.

  • How to develop and use an understanding of the entity and its environment in assessing risks.

  • How to evaluate audit findings in light of assessed risks and materiality.
Course Details:
Price:  $60.00
Field of Study:  Auditing
Prerequisites:  None
Level:  Basic
Advanced Preparation:  None
Course was last updated on:  11/06/08
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Library:
Learning Center Core

Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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Credit Available For: Units
CPE 4.0 CPE
QAS 4.0 CPE
Enrolled Agent (Accepted by the IRS) 4.0 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

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