Elevate your auditing expertise with our PCAOB Auditing Standard 1101 Audit Risk Training Seminar. This 1-hour CPE training is tailored for CPA firm staff members and auditors who want to enhance their understanding of audit risk, improve planning strategies, and adhere to PCAOB auditing standards. Led by experienced professionals with Big 4 audit backgrounds, this event provides actionable insights to help you conduct audits with precision and confidence.
Why Attend?
1. Strengthen Your Knowledge of Audit Risk - Gain a comprehensive understanding of audit risk and its role in forming reliable audit opinions, ensuring compliance with PCAOB auditing standards.
2. Improve Audit Planning and Execution - Learn proven strategies for assessing risks, planning audits, and gathering relevant evidence to support your conclusions.
3. Refine Your Professional Skills - Master critical concepts such as professional skepticism and internal control assessment, key elements for successful audit engagements.
4. Earn 1 NASBA-Approved CPE Credit - Enhance your professional credentials while gaining essential skills that elevate your audit quality in compliance with the PCAOB auditing standards .
What You’ll Learn
This training breaks down the complexities of PCAOB AS 1101 into digestible modules, focusing on both theory and practical application.
Course Highlights
1. Understanding Audit Risk:
Explore the components of audit risk (inherent, control, and detection risks), and their impact on financial statement audits.
Learn to effectively assess risk factors such as organizational complexity, transaction types, and fraud potential.
2. Factors Influencing Audit Risk:
Understand the role of internal control systems and how their effectiveness shapes audit strategies.
Discover methods for identifying and mitigating potential errors or irregularities.
3. Planning and Executing Audits:
Develop best practices for robust audit planning, including operational analysis and risk-focused sampling.
Streamline your process for executing the audit plan efficiently while maintaining compliance with PCAOB auditing standards.
4. Audit Evidence and Professional Skepticism:
Learn how to gather reliable and relevant evidence to support audit conclusions.
Strengthen your ability to apply professional skepticism during audits to uncover potential misstatements.
Key Areas of Focus:
Definition and scope of PCAOB AS 1101.
Influences on audit risk and practical strategies to mitigate them.
Importance of documentation and integrating audit findings within workpapers.
SOX 404 considerations for management’s internal control evaluations.
Benefits of Attending
Boost Your Audit Quality: Apply PCAOB AS 1101 principles to ensure accurate, reliable, and compliant audit outcomes.
Master Risk Assessment: Build a framework for evaluating inherent, control, and detection risks confidently.
Practical Application: Learn actionable strategies to incorporate PCAOB compliance into your audit workflow.
Professional Development: Earn 1 CPE credit and validate your expertise in modern audit standards.
Event Details
Schedule: Held every eight weeks on Tuesdays, 1 p.m.–2 p.m. CST.
Delivery Format: Virtual, group internet-based format with interactive discussions.
CPE Credits: 1 NASBA-approved credit in Auditing.
Cost: $70.
Private Group Options: Contact us for tailored scheduling for teams of two or more.
Who Should Attend?
This course is ideal for:
CPA Firm Staff Members: Enhance your skills to provide high-quality audit services.
Auditors: Refine your ability to assess risks and execute plans aligned with PCAOB guidelines.
Compliance Professionals: Stay aligned with regulatory standards and industry expectations.
Why PCAOB AS 1101 Matters
Audit risk is a critical pillar of effective financial statement auditing. By mastering PCAOB AS 1101 standards, you’ll gain:
Enhanced Audit Reliability: Confidence in the accuracy and validity of your findings.
Stronger Oversight: Improved ability to detect material misstatements or operational weaknesses.
Regulatory Compliance: Alignment with strict PCAOB inspection criteria to avoid challenges during reviews.
Register Today
Take the next step in your auditing career. With this targeted, 1-hour CPE training on PCAOB AS 1101, you’ll gain mission-critical skills to elevate your audit performance.
Register now to secure your spot and advance your expertise in audit risk management and compliance!

PCAOB Auditing Standard 1101: Audit Risk

$70.00

Quantity

Being offered on Tuesdays every eight weeks at 1:00 p.m. to 2:00 p.m. Central Time.

We can schedule private events on your timetable for two or more attendees. Bring this event on PCAOB AS 1101 to your audit team.

NASBA Program Disclosure

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 1, based on 50 minutes of instruction per hour
Exploring the depth of audit risk and its implications in today's complex financial landscape is both a necessity and a challenge for professionals aiming to uphold the highest standards of integrity and transparency in auditing.

The PCAOB AS 1101: Audit Risk event promises to be an enlightening journey through the intricacies of assessing and managing audit risk, guided by the principles set forth by the PCAOB. Here are the highlights of this CPE training event:

Gain insights into how to identify and assess audit risks effectively, ensuring accurate and reliable audit opinions.

Overview the various factors that impact audit risk and learn how to navigate these factors strategically to minimize risk and ensure a thorough audit process.

Discover best practices for audit planning, executing the audit plan efficiently and effectively, internal control assessment, and gathering reliable and relevant audit evidence to support audit conclusions.

Understand the importance of professional skepticism in maintaining objectivity and uncovering potential misstatements or irregularities as one of the primary auditor responsibilities.
Deepen the understanding of audit risk and its impact on financial statement audits.

Equip the financial auditor with the knowledge and skills needed to navigate this critical aspect of the auditing process, ensuring accurate and reliable audit opinions.

Review the intricacies of identifying and assessing audit risks effectively.

Learn strategies for executing the audit plan efficiently and effectively, enabling you to streamline your processes and enhance overall audit quality.

Explore the significance of professional skepticism in maintaining objectivity throughout the audit process.
Our goal for this CPE event is to equip participants with a comprehensive understanding of this crucial standard, empowering them to confidently navigate the complexities of auditing financial statements.

This event covers a range of topics essential for CPA firm staff members engaged in PCAOB regulated audits. Participants will gain insights into understanding audit risk, factors that influence it, and developing strategies to effectively plan and execute audits. We'll also delve into the importance of gathering reliable audit evidence and maintaining professional skepticism.

Our event offers practical insights into incorporating the requirements of Auditing Standard 1101 into auditing workpapers effectively. Our instructors all have prior experience as Big 4 auditors.
For those seeking to deepen their understanding beyond this event, here are several authoritative sources that offer valuable insights and guidance on navigating audit risks effectively:

Public Company Accounting Oversight Board (PCAOB): The PCAOB remains a cornerstone for professionals looking for comprehensive standards and guidelines related to audit risk. AS 1101 provides a detailed examination of how auditors assess control risk and inherent risk to manage overall audit risk efficiently.

PCAOB Auditing Standards Archive: This archive offers a historical perspective and a depth of knowledge on auditing standards, including AS 1105 on Audit Evidence, and AS 2110 related to identifying and assessing risks of material misstatement. It's a treasure trove for auditors committed to excellence and adherence to rigorous standards.

PwC's Viewpoint on AS 1101: PwC's Viewpoint offers a professional interpretation and practical advice on implementing AS 1101 within the audit process. This resource can be particularly beneficial for understanding the real-world application of these standards.

Thomson Reuters - PCAOB Standards and Related Rules: This document provides a comprehensive overview of PCAOB auditing standards as they stood at a significant point in time, offering insights into the evolution and application of various standards including those related to audit risk.

University of Mississippi's eGrove - PCAOB Standards and Related Rules: eGrove hosts a collection that includes PCAOB auditing standards prior to December 31, 2016. This resource can serve as a reference for understanding the foundational elements that have shaped current auditing practices.

Embarking on a journey to master the nuances of PCAOB AS 1101: Audit Risk is a commendable endeavor that signifies a commitment to upholding the trust and reliability inherent in the auditing profession. These resources, each an authoritative voice in the field, offer a pathway to deepen your expertise and enhance the quality of your audit practices.

PCAOB Auditing Standard 1101: Audit Risk

Details on Event Presentation

CPE Event Highlights

Learning Objectives

Key Issues on the Agenda

Summary of the Subject Matter

Authoritative Sources