New Staff: Core Concepts- Introduction to the Audit Risk Model

Overview

This CPE course can be purchased individually or as part of the Audit Staff Essentials - New Staff: Core Concepts staff training bundle.

Understand the audit risk model and how it is used at the onset of and throughout the audit process.

Learn how the audit risk model works as a tool that can help peer reviewers and inspectors determine the sufficiency of procedures performed.

Understand how engagement teams can do a better job of documenting their work when they consider the structure of the audit risk model and how evidence regarding procedures and findings is tabulated.

Highlights

Key Topics

• Relevant professional standards
• The audit risk model
• Considerations and cautions
• Audit strategy

Prerequisites

None

Designed For

Who Will Benefit

• Recently onboarded staff
• First-year staff
• Firms that want consistent training and level setting

Objectives

Learning Outcomes

• Recall the audit risk model and its elements and how the audit risk model combines risk to assess overall audit risk.
• Recall the relationship between audit strategy and the audit risk model.