Categories
Resources for Accountants

Risk Assessment: Identifying and Assessing Risks of Material Misstatement [Video]

Risk Assessment: Identifying and Assessing Risks of Material Misstatement

Auditors identify and assess risks of material misstatement to provide a basis for designing audit procedures to respond to these risks. If only it were as simple as it sounds!

This CPE-eligible (1.5 CPE), eLearning course, begins with the foundational concepts of risk and risk assessment and then discusses how to identify risks. Identifying risks involves a thorough understanding of the entity and its environment, the applicable financial reporting framework and system of internal control, which are all discussed along with the related risk assessment procedures. Once risks are identified, auditors must then assess these risks using the inherent risk spectrum to determine whether risks rise to a level of significant risk. The course concludes with a discussion of other considerations related to the risk assessment process, including the required stand-back assessment requirement, revision, and documentation.

Take our self-study eLearning course here: COMING SOON

Learn more about GAAP Dynamics: https://www.gaapdynamics.com/

Check out our other online courses on the Revolution: https://revolution.gaapdynamics.com/
.

Subscribe to GAAP Dynamics to see more videos like this!

Watch/Read More
  • Tags

Most Popular Posts Today

Most Popular This Week

How to Transition from Startup to Established Company [Video]
►
Categories
Resources for Accountants

How to Transition from Startup to Established Company [Video]

The journey from a fledgling startup to an established company is akin to scaling a mountain—fraught with challenges, but also promising breathtaking vistas of growth and success. This transition marks a pivotal moment in the entrepreneurial odyssey, where the agility and creativity that characterized the startup phase must harmonize with the stability and maturity necessary for long-term sustainability. It's a delicate balance, requiring strategic foresight, operational finesse, and unwavering commitment. In this guide, we'll delve into the multifaceted process of transitioning from a startup to an established company, exploring key strategies and best practices to navigate this transformative journey.

30-Day Roadmap for New Controller or CFO (My Blueprint) [Video]
►
Categories
Resources for Accountants

30-Day Roadmap for New Controller or CFO (My Blueprint) [Video]

Join 10,000+ professionals who enrolled in the Controller Academy 🚀 https://controller-academy.com/courses/controller-academy Get your copy of the 30-day roadmap: https://thefincontroller.com/p/30dayroadmap I am a CPA in the United States and I summarize in the video what new Controllers and CFOs need to focus on during their first 30 days in the role. Videos mentioned during this tutorial: Balance Sheet Reconciliation: https://youtu.be/rXavkEg4Ht0 How to create month-close checklist https://youtu.be/m_SfIf8PKpg Time Stamps: 00:00 Intro 00:36 Agenda 01:15 1. Financial Statement Review 02:46 2. Budget 04:50 3. Internal Controls 08:45 4. Systems 12:41 5. Month-end 14:31 6. People 17:15 7. Compliance 20:15 8. Create 90 day roadmap ----------------------------------- Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller https://www.linkedin.com/in/bill-hanna-cpa-7653a851/ DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week! All views expressed on my channel are mine alone. Not intended as financial or professional advice