$0.00

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

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

Who Will Benefit

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

Credits

Category Amount
Auditing 8.00
Printed Materials must be ordered at least ten days prior to the start of the class.
Yikes, the time is near. Please call NMSCPA at (505) 246-1699 to register.

Leaders

  • Rebecca M. Lee

    Rebecca Lee, CPA, is a discussion leader for LOSCALZO ASSOCIATES LTD. She was a principal organizer of Brooke, Freeman & Lee, Birmingham, Alabama, in 1982. As the Firm’s audit partner, she is responsible for the Firm’s audit practice and serves as a quality control reviewer for other firms. She has served on numerous AICPA and state society committees including the AICPA Management Consulting Service Professional Practice Subcommittee and Small Business Consulting Practices Subcommittee and is a past member of the Institute’s MAS Executive Committee and Personal Financial Planning Executive Committee. She has chaired both the Management Advisory Committee and the Personal Financial Planning Committee of the Alabama Society of CPAs. She currently serves as Chairman of the South Carolina Association of CPAs’ Continuing Professional Education Committee. She holds a BS degree in Accounting from Jacksonville State University, Jacksonville, Alabama, along with a Masters Degree in Accounting from Birmingham Southern College, Birmingham, Alabama. Ms. Lee is a discussion leader for all staff level audit training programs as well as, other accounting and auditing technical courses. She is a frequent speaker at CPA conferences, and has lectured extensively in the area of management advisory services at professional meetings and seminars for state societies and the American Institute of CPAs. Ms. Lee has served as professor of management accounting in the graduate studies (Master in Public and Private Management) program at Birmingham-Southern College. She is a member of the Alabama Society of CPAs, the South Carolina Association of CPAs and the AICPA.

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