The purpose of this course is to help auditors utilize a risk-based approach along with a controls assessment within their engagements to enhance audit quality. Auditors continue to struggle with effective and efficient execution of the Risk Assessment Standards. Common deficiencies include an over-reliance on checklists and inadequate documentation of audit risk assessment, including linkage of audit risks to internal controls over financial reporting. The AICPA Peer Review team continues to see common audit deficiencies relating to these issues. Make sure you are in full compliance with all of today’s standards!