This course highlights specific problems that firms are dealing with regarding risk assessment procedures and provides practical solutions. Instructor James Woy will review the recent changes to the Committee on Sponsoring Organizations (COSO) revised framework to help you gain an understanding of internal controls in a financial statement audit and link this understanding to risk assessment and further audit procedures.
Upon successful completion of this course, participants will be able to:
- Identify internal controls in a financial statement audit using the revised Committee on Sponsoring Organizations (COSO) framework
- Cite how to document and link your risk assessment to further audit procedures
- Identify how to review practice problems with risk assessment in peer review
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