The Audit Risk Model

1 Credits: Auditing


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The Audit Risk Model

Course Level
CPE Credits

1 Credits: Auditing

Course Description

Auditors use the audit risk model to determine the total amount of risk associated with an audit. In the Audit Risk Model course, we describe how this model works and how the auditor can use it to manage audit risk. We note situations in which the model indicates unacceptable audit risk, as well as cases in which expanded audit procedures can overcome these concerns. The course also addresses the concepts of audit evidence and audit sampling.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the type of audit evidence that an auditor needs to obtain.
  • Specify the various sources of audit evidence.
  • Recall how tests of controls are used.
  • Specify the characteristics of statistical and nonstatistical sampling.
  • Identify how attribute sampling is used.
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Course Specifics

Course ID
Revision Date
December 13, 2023

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …