Assurance

Assessing Risk - Understanding the New Audit Requirement

This course provides practitioners with practical guidance on how to implement the new audit risk standards.  CAs in industry can also use the principles explained to develop risk management practices within their entities.

Topics include:

•         Road map for conducting an audit

•         The overall audit strategy

•         Fraud risk and management override

•         Risk assessment procedures

•         Entity level and IT general controls

•         Design and implementation of internal controls

•         Risk/control matrix (including use on very small engagements)

•         Responding to risk – design of further audit procedures

•         Lessons learned from first year of implementation

Note:  Participants are required to have access to a copy of the CICA’s Professional Engagement Manual (PEM) as various PEM forms are used throughout the course.  You are not required to bring the new PEM to the course.

Seminar Leader: Christine Thomson, CA