The Audit Risk Model (CPE Course)

CPE Credit: 1 hour

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $15

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Course Description
Auditors use the audit risk model to determine the total amount of risk associated with an audit. In The Audit Risk Model course, we describe how this model works and how the auditor can use it to manage audit risk. We note situations in which the model indicates unacceptable audit risk, as well as cases in which expanded audit procedures can overcome these concerns. The course also addresses the concepts of audit evidence and audit sampling.

Author: Steven Bragg

Course Number: AU1037

Learning Objectives

  • Identify the type of audit evidence that an auditor needs to obtain.

  • Specify the various sources of audit evidence.

  • Recall how tests of controls are used.

  • Specify the characteristics of statistical and nonstatistical sampling.

  • Identify how attribute sampling is used.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Auditing

Prerequisites: None

Advance Preparation: None

Latest Review Date: November 2023

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. 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 the 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.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.