Implementing the Risk Assessment Standards in Your State and Local Government Financial Statement Audits: Rebroadcast
Learn key insights for conducting SAS No. 145 risk assessments in your governmental financial statement audits.
Format
Webcast
NASBA Field of Study
Auditing (Governmental)
Level
Intermediate
CPE Credits
2
Instructor
Maria Manasses, Marla Hummel
Availability
3 months
Product Number
WC4589237
SAS No. 145 Breakdown for auditors
This Governmental Audit Quality Center (GAQC) web event is designed to provide participants who audit state and local governments with an understanding of SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement.
Participants will gain insight into:
- Changes to the risk assessment process
- Planning the audit to effectively link risk assessments to the audit procedures planned and performed
- Common risk factors and corresponding audit responses to be considered in audits of state and local governments
- An overview of related guidance found in the AICPA Audit and Accounting Guide Audits of State and Local Governments
- Best practices, tips, available resources and tools
Key Topics
- Risk assessment under SAS No. 145 and related new concepts
- Design, implementation and operating effectiveness of internal controls
- State and local government financial statement audit planning
Learning Objectives
- Apply key risk assessment concepts of SAS No. 145 in identifying and assessing risks of material misstatement.
- Interpret the more significant risk assessment-related changes associated with the implementation of SAS No. 145.
- Differentiate risk assessment procedures related to the various components of the entity’s system of internal control.
- Determine when and how to evaluate design and determine the implementation of controls.
Who Will Benefit
Auditors of state and local governmental financial statements
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2 to 5 registrants
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