Audit Planning and Risk Assessment

About the course:

Effective audit planning and risk assessment are the cornerstones of a successful audit engagement. This course, “Audit Planning and Risk Assessment,” provides participants with a practical introduction to the key concepts, processes, and tools used in planning an audit and identifying audit risks. In just two hours, attendees will learn how to structure an audit engagement from the start, conduct thorough risk assessments, and tailor audit procedures to address identified risks. The course combines essential theory with real-world examples, making it ideal for professionals who want to strengthen their audit foundation and deliver higher-quality audit outcomes.

Course Objective:

By the end of this course, participants will be able to:

• Understand the purpose and importance of audit planning in the audit process.
• Identify and assess risks of material misstatement at the financial statement and assertion levels.
• Develop an effective audit plan tailored to identified risks.
• Apply techniques and tools for risk assessment, including analytical procedures and internal control evaluation.
• Enhance audit quality and efficiency by integrating risk assessment into every stage of the audit.

Who is the Target Audience?

This course is designed for:

• Junior and aspiring auditors seeking to understand audit fundamentals.
• Experienced accountants transitioning to audit roles.
• Audit team members are responsible for planning and risk assessment activities.
• Business owners and managers interested in audit processes and risk management.
• Students studying accounting, auditing, or related fields.

Basic Knowledge:

• No prior audit experience is required, but basic knowledge of accounting principles will be helpful.