Event Description

This series will provide valuable tips and techniques from an experienced auditor to successfully design and perform financial statement audits in “real-life” circumstances. Practical understanding of principles and standards can result in a high-quality, insightful, and profitable engagement.

Objectives

• Describe the initial information that should be gathered in order to have a proper basis for important decisions made in early planning and risk assessment
• Explain how proper planning sets the stage for how much audit effort will be spent on the engagement
• Apply professional judgment in identifying risk that will ultimately be used at the basis for designing the detailed audit plan
• Recall how preliminary planning and risk assessment activities are not just “check off the box” tasks, but meaningful judgments that directly influence audit effectiveness and efficiency