If you do not inform us that you are unable to attend the webinar training session, and we are unable to reach you to confirm whether you would like access to the edited recording, your booking will automatically be credited after one week. You will then need to rebook the lesson through our Akhanani website.
Ms Covanni Hohls
3 Dec '27
09H00 - 11H00
2.75
Attending the course and successfully completing the post-assessment, will grant you
2 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, SAIT, SAIPA , ACCA, IACSA & IRBA). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
There are many references throughout the ISAs to audit risk.
During this lesson, I will discuss a 10-point plan for auditors to identify and address the different components of risk during an audit of financial statements.
I will also explain which type of audit procedures should be performed to address the different components of risk.
Content:
1. What is audit risk
2. Assessment of inherent risk
3. Assessment of control risk
4. Assessment of fraud risk
5. Detection risk
6. Significant risks
7. Presumed risks
a. Revenue testing
b. Seven steps to perform to test journal entries
c. Auditing accounting estimates
d. Transactions outside the normal course of business
8. Business risks
9. Risk of material misstatement (ROMM)
10. Desired audit risk
What does all these terms mean and how does it fit into a risk-based audit approach?
