Event Detail

Sep
19
Thursday
Sep
19
Thu
Industries :: Business & Professional Services also Legal & HR :: Professional Development
Risk-Based Audit Standards: Effective Utilization
8:00 AM
Hilton Garden Inn Billings
Description:
Event Details
Thursday, September 19, 2019
8:00am – 4:00pm
(Registration: 7:30am)

Description

This program will review the requirements of risk-based auditing, address best practices when conducting planning and risk assessment procedures, describe audit testing strategies including sampling and internal control testing and illustrate documentation examples that comply with the risk assessment standards. Additionally, this course will introduce, explain and outline how artificial intelligence (AI) can and already is, changing the audit process. Specifically, this course will examine how AI will change fundamental components of the risk-based audit process.

Highlights

Definition of artificial intelligence
What AI means for business
Applications of AI already in client firms
Accounting implications of AI
Market examples and updates
Risk assessment process and procedures
Audit planning and strategy
Testing strategies
Internal control testing
Risk assessment audit standards
Sampling applications
Sufficiency of evidence
Documentation and best practices
Linked and tailored audit procedures
SAS No.132 on the Auditor’s Consideration of an Entity’s Ability to Remain a Going Concern

Objectives

Participants will be able to:

Apply the risk-based audit standards.
Apply risk assessment audit procedures.
Develop effective and efficient audit strategies for private entity audits.
Select effective and efficient audit testing strategies.
Determine when it might be more efficient to perform internal control testing.
Explain and discuss core components of AI.
Differentiate and discuss the different kinds of AI currently in the marketplace.
Identify how AI tools are already influencing and changing the audit and accounting profession.
Be able to evaluate where to begin implementing AI in the audit and attest process.
Discuss and articulate what firms are currently doing to implement AI within their organizations.

Designed For

Audit practitioners having responsibility for planning and supervising audits, as well as other members of audit engagement teams involved with audits of non-public entities. Additionally, this course is designed for audit professionals seeking to better understand how AI will change how audits are conducted and future applications based on AI technologies.
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Age Group: All Ages
Tags: # BILLINGS
Venue: Hilton Garden Inn Billings
Address: 2465 Grant Rd, Billings, MT 59102
Phone: (406) 655-8800

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