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Risk Assessment During the Recovery
COVID-19
Webcast

Risk Assessment During the Recovery

During this webcast we will review the risk assessment standard requirements and discuss the importance of risk assessment during the pandemic recovery period. We will help you to improve audit quality by avoiding common challenges.

46656305-6110-4E90-B13F-627B274DF603Created with sketchtool.Included in Webcast Pass

Format

Webcast

NASBA Field of Study

Auditing

Level

Basic

CPE Credits

2

Author(s)

Bob Dohrer, Carl R. Mayes Jr.

Availability

3 months

Learning Outcomes
  • Identify the most common challenges auditors encounter with respect to AU-C Sections 315 and 330
  • Recall the intent of the standards and how the requirements should be interpreted
  • Recognize practical application of the standards in audits of small- to medium-sized entities
  • Identify and access helpful resources to support quality performance
Key Topics
  • Misconceptions leading to non-compliance with AU-C Sections 315 and 330
  • Understanding the entity and its environment, including internal control
  • Assessing the risks of material misstatement
  • Performing audit procedures in response to assessed risks
  • New risks to consider as a result of the COVID-19 Pandemic
Product Details

Improve Audit Quality

The Coronavirus pandemic (COVID-19) has presented new and heightened risks for businesses, making the audit risk assessment all the more important.

The key to high-quality audit engagements is rooted in appropriately identifying and responding to the risks of material misstatement. However, more than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team found that nearly half of the engagements reviewed failed to comply with AU-C Sections 315 or 330.

In this webcast, you will learn about the most pervasive risk assessment issues the Peer Review team has uncovered and how to avoid them in your practice. You will also learn how to properly assess risk affecting clients during the COVID-19 pandemic.

Who Will Benefit
  • Practitioners who perform audit engagements
Pricing
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Contact us
More Details
NASBA Field of Study
Auditing
Level
Basic
Prerequisites
None
Access
This is a live event. You will have access on the date/time of broadcast and the archive for 3 months after the broadcast date.
Duration
2 hrs
Speakers
Bob Dohrer
CPA, CGMA
Bob Dohrer is the Chief Auditor at the American Institute of Certified Public Accountants. Bob serves as an expert on US and international auditing and attestation standards and leads Professional Standards teams in the delivery of high-quality, innovative audit, attest, quality control, review, compilation and preparation standards. Bob provides strategic direction to the Auditing Standards Board (ASB) and the Accounting and Review Services Committee (ARS), in partnership with their Chairs. He works with the ASB in identifying and developing new, innovative and transformational auditing standards that encourage the use of technology in the financial statement audit and in visioning how the audit might change as technology advances. Bob represents the AICPA and participates in leadership and activities of the Committee of Sponsoring Organizations (COSO), The International Auditing and Assurance Standards Board (IAASB) and The U.S. Standard-Setting Coordinating Committee (AICPA-PCAOB-GAO), with the ASB chair, promoting collaboration and uniformity. Prior to joining the AICPA in October 2018, Bob was RSM International Limited’s Global Leader - Quality & Risk, based primarily in RSM’s Executive Office in London. Bob had overall responsibility for the global network’s audit and other attest services policies, procedures and guidance. Prior to joining the RSM Executive Office in March 2012, Bob served as the RSM US LLP’s (formerly McGladrey) Director of Assurance Services and International Assurance Services Practice Leader and served a broad range of clients. Bob has twenty-nine years of experience in public accounting, all with RSM and McGladrey. Bob is the immediate past chair of the AICPA’s Assurance Services Executive Committee (ASEC) and in that role led the AICPA through recent efforts related to SOC, cybersecurity, sustainability and use of emerging technologies. Bob also served two terms on the ASB. Internationally, Bob is a member of the IAASB, where he serves as Chair of the Data Analytics Working Group, Co-Chairs the Group Audits Task Force and is a member of the Quality Control Task Force. Prior to being appointed to the IAASB, Bob served two terms as Chair of the Forum of Firms. Bob graduated from the University of South Dakota with a Master of Professional Accountancy degree and from Black Hills State University with a Bachelor of Science degree in accounting.
Carl R. Mayes Jr.
CPA
Carl Mayes is the Associate Director of CPA Quality and Evolution. He is the project lead for the AICPA’s Enhancing Audit Quality (EAQ) initiative and manages the CPA Evolution effort. Before working on the EAQ initiative, Carl served on the AICPA Peer Review team and helped develop the AICPA Not-for-Profit Section. Carl is a licensed CPA in North Carolina and worked as an auditor for regional and local public accounting firms before joining the AICPA.
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Risk Assessment During the Recovery
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