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Overview

8.0 Credits
IN-PERSON

(SEMINAR CANCELLED) 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.

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

Major Topics

 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

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.

Prerequisite

Basic auditing course or equivalent experience

Sessions

Please select the appropriate session or option below to continue with your online purchase.

Materials Option

How would you like to receive your course materials?:

Your registration fee includes an electronic copy of the course manual. Your eMaterials will be available for download in the "My CPE" area of the website one week before the program date. Please note: Program cancellations will not be allowed once you have downloaded your eMaterials from the website. Copyright note: Reproduction or distribution of the manual or any portion of it is prohibited unless written permission is obtained from the course provider.

We will print a manual and provide it to you at registration the morning of the program.

Qualifies for the 24-hour Yellow Book requirement. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor's Yellow Book clients. Note that the determination of course qualification is a matter of an auditor's professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.