Risk assessment continues to be a key concept, receiving significant focus from peer reviewers and quality control inspectors. As such, this CPE module is designed to begin with a discussion of risk assessment to ensure that the concepts are well understood and adds a new layer focused on internal controls. Next, we will cover the identification and testing of automated and information technology general controls. From there, this module will change direction and begin to focus on the consideration of deficiencies in internal control, including a discussion of deficiencies in automated controls and information technology general controls.
This discussion will include the consideration of severity and steps taken for aggregating found deficiencies; a discussion of the impact of compensating and monitoring controls will follow. The module will wrap up by considering common peer review and inspection findings with regard to internal control.
Delivery Method: Self Study
CPE Credit: Auditing
Program Level: Intermediate