How risk assessments are performed in the audit of financial statements has been challenged recently. As you prepare for the upcoming audit season or your next peer review, know that how your audit team performs risk assessments will be scrutinized. This session will provide a refresher on the audit risk assessment standards with some specific thoughts on application for state and local governments.
Recall concept and auditing standards on risk assessment.
Apply the risk assessment standards to the audit of state and local governments.