CPE Session 7: Saturday, August 5, 1:00 PM – 4:00 PM
Assessing Risks in the New Audit Environment
Description/Objectives:
New auditing standards require auditors to approach the audit from a risk perspective. This session will define the types of risks auditors must address and the types of risk assessment procedures they perform. Global auditing firms, as members of the Forum of Firms, agree to adopt the higher of their country's generally accepted auditing standards or international auditing standards. International Auditing Standards (ISA) Nos. 315 and 330 (the risk standards) are now effective. In addition, the Auditing Standards Board (ASB) of the AICPA adopted similar risk standards, which will be effective for all U.S. auditors in December 2006. As a result, all global auditing firms revised their global audit methodologies to meet the requirements of the risk standards.
Presenters:
Robert Colson, Grant Thornton; Keith Newton, Grant Thornton; Trent Gazzaway, Grant Thornton.
* Denotes special requirements or prerequisite
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