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Internal Control and Risk Assessment: Key Factors in a Successful Audit

Internal Control and Risk Assessment: Key Factors in a Successful Audit

Quick Overview
Under generally accepted auditing standards (GAAS), all auditors are required to follow a risk-based approach to auditing. The consideration of internal control is key to risk assessment and to the determination of overall audit approach. In this CPE course, learn the requirements in a financial statement audit for understanding internal control, assessing the design and implementation thereof, and evaluating and communicating internal control deficiencies.

Credits - 10.00
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Price: 189.00


Lynford Graham, CPA, PhD, CFE

Field(s) of study


Level of difficulty


Topics discussed

The requirements to assess internal control, COSO’s integrated framework, Internal control as a part of risk assessment, Testing internal controls and controls reliance, The use of a service organization in the context of an entity’s system of control, IT general control and application controls, Documenting the control assessment, Assessing and communicating deficiencies, Efficient and effective practices


Identify the professional requirements relating to internal control considerations in a financial statement audit, including their relationship to risk assessment

Designed for

Practitioners responsible for or involved in financial statement audits