Experienced In-Charge/Senior - Risk Assessment and Advanced Internal Control

Overview

This CPE course can be purchased individually, or as a part of the Audit Staff Essentials - Experienced In-Charge/Senior training bundle.

Understand risk assessment.

Review the key concept of risk assessment, with a focus on internal controls. Understand identification and testing of automated and information technology general controls.

Internal control.

Consider deficiencies in internal control, including deficiencies in automated controls and information technology general controls.

Understand the concept of severity and steps taken for aggregating found deficiencies, as well as the impact of compensating and monitoring controls.

Consider common peer review and inspection findings with regard to internal control to prevent them from recurring.

Highlights

Key Topics

• Risk assessment
• Internal control
• Identifying deficiencies in internal control
• ITGC and automated controls

Prerequisites

2-3 years of audit experience

Designed For

Who Will Benefit

• Experienced in-charge auditors
• Audit seniors
• Firms that want consistent training and level setting

Objectives

Learning Outcomes

• Identify the key considerations regarding risk assessment, including with respect to internal control.
• Identify the considerations when identifying and testing automated and information technology general controls.
• Analyze information regarding deficiencies, including levels of severity and special deficiencies.
• Identify common deficiencies and consideration for automated and information technology general controls.
• Analyze common peer review and inspection findings to avoid their recurrence.