Virtual
Risk Assessment When Auditing Private Entities 2024
Date: Feb. 10, 2025
Time: 8 – 11:30 a.m. PT
CPE: 4
Overview
Auditors identify and assess the risks of a material misstatement by understanding the entity and its environment. Privately owned companies present unique challenges. During this course, we'll examine: 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?
Product Code
1000002748-125230
Credit Type
CPE: 4CPE-AA: 4CPE-Technical: 4Intended Audience
CPAs, accountants and auditors.
NASBA Field of Study
Auditing
Level of Difficulty
Basic
Prerequisites
None
Advance Preparation
None
Learning Objectives
Major Subjects
- Review of applicable auditing standards for risk assessment
- Update for SAS #145
- 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
Faculty
Eugene J. Ristaino
Gene develops and provides Continuing Professional Education (CPE) Programs, including in-person seminars and on-line webinars. He also lectures for many industry associations, and has authored numerous professional education programs. Gene provides tailored CPA programs to accounting firms as requested. Gene is also a national instructor for the American Institute of Certified Public Accountants (AICPA) and many state societies. Gene Ristain...
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