Introduction to Risk Assessment

Effective risk assessment is foundational to designing an appropriate audit response. This course introduces the audit risk model and provides an overview of the risk assessment procedures performed during engagements. Participants will review the components of the audit risk model and examine common risk assessment procedures, including inquiries, analytical procedures, and observation and inspection techniques. Emphasis is placed on understanding how risk assessment drives engagement planning and supports the development of appropriate audit responses. Designed for auditors seeking a structured introduction or refresher, this course builds foundational knowledge necessary for effective engagement planning and execution. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

After attending this presentation, you will be able to...

• Perform risk assessment procedures during an engagement
• Recall parts of the audit risk model

Highlights

The major topics that will be covered in this course include:

• Overview of the risk assessment procedures performed during engagements.
• Inquiries, analytical procedures, and observation and inspection techniques. 
• Understanding how risk assessment drives engagement planning and supports the development of appropriate audit responses.