Risk Assessment Under SAS No. 145: The Key to Audit Quality? (C67781)

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Please note that this webinar Is from a third party vendor, CPA Crossings. We strongly recommend registering no later than one-hour before the webinar begins. Please contact CPA Crossings webinar hotline if you do Not receive your webinar invitation via email within five minutes after registering:  877-370-2220 ext. 1. Thank you.

Date(s):

05/02/2025

Registration Open:

12:00 AM - 10:30 AM

Time:

10:30 AM - 12:30 PM

Facility:

 Online

Meeting Type:

Webinars

CPE Credit:

2.00

Field(s) Of Study:

Auditing (2.00)

Level of Knowledge:

Basic

Price:

Member: $89.00
Nonmember: $109.00

Individual Discounts:

Not Available

Overview

After attending this presentation you will be able to...

  • Recognize key risk assessment concepts applying to SAS No. 145 in identifying and assessing risks of material misstatement
  • Determine the impact to the risk assessment process and the work to be performed
  • Identify risk assessment procedures related to the various components of the entity&rsquo:s system of internal control
  • Recall how to scale risk assessment requirements to be effective and efficient, particularly for less complex entities
  • Recall when and how to evaluate design and determine the implementation of controls
  • Recognize risk assessment requirements to appropriately identify risks arising from the use of information technology (IT) and related general IT controls
  • Identify potential risk assessment and related audit documentation traps

Highlights

The topics that will be covered in this class include:

  • New concepts due to the issuance of SAS No. 145
    • Revised requirement to separately assess inherent risk and control risk
    • A new definition of significant risk
    • New emphasis on IT controls and risk of material misstatement
    • New guidance on maintaining professional skepticism
    • Revised requirements to evaluate the design of certain controls
    • Revised requirements regarding audit documentation
    • New guidance on scalability

    Speaker(s)

    Prerequisites

    General knowledge of the risk assessment standards.