NOT1921. Risky Business: Properly Assessing and Responding to Risk

Track: 
Accounting & Auditing
Field of Study: 
Accounting
CPE Credit: 
1.5
Knowledge Level: 
Intermediate
Advanced Preparation: 
None
Prerequisite: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Tuesday, June 11, 2019
 
9:20AM-10:35AM

Are you starting your audit off on the right foot? At the core of every audit are the goals of identifying, assessing and responding to risks of material misstatement. However, more than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team has found that more than half of all firms fail to comply with AU-C Section 315 or 330. In this session, you'll learn about the most pervasive issues the Peer Review team has uncovered and how to avoid them in your practice.

Learning Objectives:

  • Identify the most commonly misapplied requirements of AU-C Sections 315 and 330.
  • Analyze the intent of the Standards and how the requirements should be interpreted.
  • Identify helpful resources to support quality performance


SESSION SPEAKER(S)

CPA, CGMA
Partner | Reeder & Associates,PA