Conduct risk assessment the right way (bold)
Regardless of the size of your client or audit budget, there are specific requirements in accounting standards and generally accepted auditing principles (GAAP) related to auditing internal control for risk assessment purposes.
Learn about the impact internal control has on your audit engagements and how to avoid common audit missteps identified through our peer review.
– The audit risk model
– Auditor responsibilities in risk assessment
– How to correctly evaluate internal control
– The relationship between AU-C 315 and AU-C 330
• Recall the definitions of control, control risk, and what encompasses a client’s internal control.
*The audit risk model
Practitioners who perform audit engagements