GAE2420. Panel on SAS 145

The new risk assessment standard, effective for this fiscal year, introduces the spectrum of risk and establishes the need for a stand-back look at risks. This session will include discussion of practical examples around risk assessments and the audit approach to address those risks.

Learning Objectives:

• Identify key concepts of SAS 145
• Recognize impact of financial statement risks on other risk assessments
• Identify examples of RMMs for classes of transactions and accounts
• Identify examples of RMMS for note disclosures