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 requirement to evaluate the design and implementation of internal control as part of the risk assessment process.
• Explain the considerations when deciding whether it is necessary or desirable to test the operating effectiveness of internal controls to reduce assessed risk of material misstatement.
• Apply best practices in understanding one of the most commonly misunderstood and misapplied aspects of the audit process.