Brilliant with the Basics: Part 3-Risk Assessments (4 CPEs)

Brilliant with the Basics Series

In our Being Brilliant with the Basics series, we revisit the fundamentals every auditor needs with a new perspective for auditing in 2021.  Seasoned professionals and those new to audit can all benefit from being brilliant with these fundamentals.

Brilliant with the Basics – Risk Assessments

Is risk really understood or evaluated correctly, every time?  From a business, not audit, perspective?  Business objectives and operating rules—the primary drivers of risk—have to be fully understood to ensure risks are identified and effectively evaluated.  Auditors must also understand how velocity, duration and the varying levels of consequence and cause impact risk to effectively assess threats.

This session will help auditors understand how an identified risk can have varying levels of potential consequence and impact and how that understanding and improves our ability to evaluate risks and  effectively communicate and facilitate resolutions.

You will learn:

• The many factors that impact the potential risk level for any issue
• What needs to be taken into consideration to fully and appropriately evaluate risks
• How duration, velocity and levels of consequence and case impact risk significance
• Techniques to rank and rate risks

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CPE: 4.0 | Field: Auditing| Delivery: Group Internet Based

Level: Beginner | Prerequisites: None | Who Should Attend: Audit Staff and Managers

Verracy is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Texas State Board of Public Accountancy, 505 E. Huntland Drive, Suite 380, Austin, Texas 78752 www.tsbpa.state.tx.us