PCAOB Standards and Issues

The PCAOB's Risk Assessment Standards

Course Overview:
In this program, you will learn about risk assessment standards promulgated by the Public Company Accounting Oversight Board (PCAOB) effective for audits of fiscal periods beginning on or after December 15, 2010. We provide an overview of the eight Auditing Standards that comprise the risk assessment standards, which cover planning, risk assessment and response, planning, supervision, materiality considerations, evaluating results, and audit evidence. The risk assessment standards systematize the risk assessment process, emphasize geographically diverse business units, and update how materiality is considered.

Learning Objectives:

After completing this course, the course participant should be able to:
  • Understand the purpose of the risk assessment standards.
  • Identify the applicability of the guidance contained in each of the eight risk assessment standards.
  • Recognize the importance of auditor skepticism in assessing the risk of material misstatement, whether caused by error or fraud.
  • Adequately respond to identified risks of material misstatement.
  • Distinguish ways to collect sufficient appropriate audit evidence and evaluate the results.

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
    content, SmartPros has been providing mandatory continuing education
    products since 1981. SmartPros provides services and content to its
    professional and corporate clients, in a variety of media including Web, CD
    ROM, and video. In the accounting market, SmartPros also has a predominant
    news and information portal which receives 200,000+ visits per month and
    provides services to over 100,000 subscribers. SmartPros' customers include
    50% of the Fortune 500, as well as the major firms and associations in each
    of its professional markets.

    Prerequisites/Advanced Preparation:

    Basic knowledge of auditing

    Speakers / Authors:

    Barbara Apostolou
    Barbara Apostolou, PhD, CPA is a professor of accounting at West Virginia University. She has authored or co-authored nearly 60 articles and several books and a number of courses for SmartPros. She served for ten years as editor of the Educational Research Section for Issues in Accounting Education and serves on the editorial board of the Journal of Accounting Education. She was awarded the Society of Louisiana CPAs/AICPA Lifetime Achievement in Accounting Education Award in 1996 and is the recipient of 12 awards for teaching excellence.

    Ludwig Christian Schaupp, PhD, CFE is an associate professor at West Virginia University. Since his appointment to the faculty in 2008, his primary focus has been within the Business Masters Programs. Dr. Schaupp has published in several top-tier journals including Communications of the ACM, Information Systems Frontiers, and Journal of Computer Information Systems. He has also presented at several international conferences including Americas Conference on Information Systems (AMCIS) as well as the Hawaiian International Conference on Systems Sciences (HICSS).

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Windows or Mac OS

    Price (USD)

    Standard: $24.95


    Course Code : 993012

    Length : 50min
    Course Level : Basic
    Course Type : New Standards
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Auditing

    Theme : PCAOB Standards and Issues

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