EBP1962. Work The Core, Don't Fail in Assessing Risk (Repeat of Session 6)

Track: 
Accounting & Auditing
Field of Study: 
Auditing
CPE Credit: 
1.5
Knowledge Level: 
Advanced
Advanced Preparation: 
None
Prerequisite: 
Extensive qualified retirement/ERISA plans/employee benefit plan knowledge or experience.

Wednesday, May 8, 2019
 
8:00AM-9:15AM

Partners, are you starting your audit off properly? Most practitioners answer, "yes." However, more than a decade after the risk assessment standards were issued, the AICPA Peer Review team found that more than half of all firms fail to comply with AU-C Section 315 or 330.

At the core of every audit are the goals of identifying, assessing, and responding to risks of material misstatement. Ensure your EBP audits comply with risk assessment standards. The discussion will include misconceptions commonly held by senior-level practitioners and how to avoid these common areas of non-compliance.
Learning Objectives:

  • Interpret commonly misapplied requirements of AU-C Sections 315 and 330.
  • Contrast common areas of non-compliance found by AICPA Peer Review team research to your EBP audit performance.
  • Assess practical application of the standards in EBP audits.


SESSION SPEAKER(S)

CPA
Associate Director - CPA Quality and Evolution | AICPA
CPA
NA | Johnson Lambert LLP
Partner | PricewaterhouseCoopers LLP