Audit Standards Update: Clarifying Risk Assessment Webinar

• Understand the audit risk model.
• Determine how the standards affect your audit practice.
• Identify additional procedural changes requiring firm implementation.
• Determine an implementation plan and the procedural and documentation requirements embodied in these standards.
• Recognize the impact of enacted changes resulting from the AICPA Clarity Project.

• Assessing the risk of material misstatement.
• Mandatory risk assessment procedures.
• Evaluating internal controls.
• Responding to risk assessment with appropriate audit procedures.
• Complying with revised and expanded documentation requirements.