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Not-for-Profit Industry Conference 2019


NOT1902 - Best Practices in Documenting Internal Controls for Risk Assessments


Jun 10, 2019 2:05pm ‐ Jun 10, 2019 3:20pm

Standard: $49.00

Description

A study by the AICPA's Peer Review Program found that more than one in 10 firms are not properly assessing risk or linking their assessments to their audit procedures. Of these deficiencies, 40% related to failure to gain an understanding of internal control when identifying the client's risks. Without understanding the nature of the client's controls, auditors can't identify related risks or design appropriate responses. This course will review the best practices in proper documentation of control risks for risk assessment.

  • Recognize factors that should be considered when conducting your audit risk assessment
  • Identify best practices in documenting control risks as part of the audit risk assessment

Speaker(s):

  • Melisa F. Galasso, CPA, CGMA, Owner, Galasso Learning Solutions LLC
  • Kris Ray, CPA, NFP Industry Technical Leader, Plante Moran, PLLC
Tags: AA

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