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AICPA Not-for-Profit Industry Conference


NOT2027 - Work the Core - Don't Fail in Assessing Risk


Jun 9, 2020 1:10pm ‐ Jun 9, 2020 2:25pm

Description

Auditors, are you stabilizing your core? At the core of every audit are the goals of identifying and responding to risks of material misstatement. However, more than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team has found that more than half of all firms fail to comply with AU-C Section 315 or 330. 

In this session, you'll learn about the most pervasive issues the Peer Review team has uncovered and how to avoid them in your practice.

    Learning Objectives:
    • Identify the most commonly misapplied requirements of AU-C Section 315 and 330.
    • Understand the intent of the Standards and how the requirements should be interpreted.
    • Determine practical application of the Standards in audits of small to medium-sized entities.
    • Recognize helpful resources to support quality performance.

    Speaker(s):

    Category: Concurrent Session (Onsite and Online)

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