AICPA Risk Assessment Resources

AICPA risk assessment resources

Identifying, assessing and responding to risks of material misstatement are at the core of every audit. However, a 2017 survey of peer reviewers found over half of 400 audits they reviewed did not comply with the risk assessment standards. Follow the advice in this risk assessment infographic to avoid common missteps.

The resources below will help you perform more effective risk assessments, appropriately link your risk assessments to your audit procedures and comply with the standards.

audit risk assessment tool

This comprehensive template will help you identify, assess and document your planned response to risks of material misstatement and make your audit more effective and more efficient.

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Risk Assessment Learning Resources

This webcast and this self-study CPE course walks through the most pervasive issues the Peer Review team has uncovered and how to avoid them in your practice.

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This tool will help you identify non-compliance with AU-C 315 and AU-C 330 during your firm's internal inspection. The aid also provides guidance on how those findings should be addressed.

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Get answers to the most common AU-C 315 and 330 questions received by the Center for Plain English Accounting (CPEA). The CPEA’s team of experts helps member firms understand and implement standards by sharing technical advice in a straightforward manner.

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These practice aids will help you identify risks of material misstatement in accordance with AU-C section 315 when auditing clients in specific industries such as gaming, health care and more.

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Use this PowerPoint presentation with speaker notes and this staff training case study to educate your firm on proper risk assessment and response as well as common misconceptions to avoid.

Other Resources

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