September 14, 2022 8:00am – 11:30am Map & Directions 602-252-4144

Webcast: Risk Assessment Standards When Auditing Privately Owned Companies

Description

Auditors identify and assess the risks of a material misstatement by understanding the entity and its environment. Privately-owned companies present unique challenges. We'll examine issues such as: Do identifiable controls exist? Do owners/managers promote compliance with company policies? Do owners/managers document controls and communicate them to staff? Are these controls observable? Can they be tested for operating effectiveness? Do owners/managers monitor employee performance and evaluate the controls in place?

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

7:30am

Fees

Member:
$160
Non-CPA Staff:
$210
Non-CPA Staff (100% club):
$160
Non-CPA Staff (sole proprietor):
$160
Non-Member:
$210
Webcast
Accounting & Auditing
4

Objectives

  • Recognize high-risk areas applicable to private companies
  • Determine the best approach to deal with private company shortcomings in control activities
  • Identify the appropriate risk assessment procedures in the circumstances

Course Level

Beginning

Vendor

CalCPA Education Foundation More With This Vendor

Designed For

CPAs

Prerequisites

None.

Highlights

  • Review of applicable auditing standards for risk assessment
  • Identification and discussion of high-risk audit areas
  • Discussion and analysis of control risk vs. inherent risk
  • Practical approach to auditing companies where controls are minimal or not adequately documented
  • Detailed discussion and examples of risk assessment procedures and alternative approaches

Notes

None

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