Partners, are you starting your audit off properly? Most practitioners answer, "yes." However, more than a decade after the risk assessment standards were issued, the AICPA Peer Review team found that more than half of all firms fail to comply with AU-C Section 315 or 330. At the core of every audit are the goals of identifying, assessing, and responding to risks of material misstatement. Ensure your EBP audits comply with risk assessment standards. The discussion will include misconceptions commonly held by senior-level practitioners and how to avoid common missteps.
Identify common areas of non-compliance found by AICPA Peer Review team
Interpret requirements of AU-C Sections 315 and 330 that are being misapplied
Assess practical application of the standards in EBP audits
Associate Director - CPA Quality and Evolution,
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