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Risk Assessment Standards When Auditing Privately-Owned Companies

Provider: CalCPA

Length: 3 hours 38 minutes

Auditing 4 CPE Credits Basic QAS self study
Auditors identify and assess the risks of a material misstatement by understanding the entity and its environment. Privately-owned companies present unique challenges. We'll examine issues such as: Do identifiable controls exist? Do owners/managers promote compliance with company policies? Do owners/managers document controls and communicate them to staff? Are these controls observable? Can they be tested for operating effectiveness? Do owners/managers monitor employee performance and evaluate the controls in place?

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