The Audit Risk Model

Apply the audit risk model to quantify and manage overall engagement risk. This course explains how the model operates and shows how to adjust audit procedures in response to varying levels of inherent and control risk. You will learn to identify situations that create unacceptable audit risk and determine when expanded testing can mitigate those concerns. The course also examines audit evidence and sampling techniques, enabling you to design more effective and defensible audit strategies.
Format

PDF Course

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Duration

1 Hour

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Course Information

Author: Steven Bragg
Course Number: AU1037

Learning Objectives
  • Identify the type of audit evidence that an auditor needs to obtain.
  • Specify the various sources of audit evidence.
  • Recall how tests of controls are used.
  • Specify the characteristics of statistical and nonstatistical sampling.
  • Identify how attribute sampling is used.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: November 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.