How to Meet SAS 104-111 Documentation Requirements using the Risk Assessment Toolkit (Completed)

The new documentation requirements in the AICPA’s risk assessment standards are not only burdensome, but, due to the mandated change in methodology, are confusing to most practitioners. This webcast will demonstrate the step by step approach used by the new Risk Assessment Toolkit to guide the practitioner to create the required documentation.

Who Should Attend
Auditors at all levels who want to learn how they can save time and ensure consistency in meeting the documentation requirements on their audit engagements.

Topics Covered

• Pre-engagement activities
• Audit strategy
• Preliminary materiality and tolerable misstatement
• Engagement team meeting
• Interview documentation
• Analytical procedures
• Observation and inspection
• Understanding of entity and operating environment
• Fraud risk documentation
• Audit Strategy worksheets for assertion level risk assessment

Learning Objectives

• Understand how the Risk Assessment Toolkit will simplify and standardize the steps necessary to comply with the required assertion-based approach to audit engagements.

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (1 hour)

Program Prerequisites
Basic knowledge of SAS 104-111 requirements

Advance Preparation
None