Audit Risk Assessment Made Easy: Seeing What Others Miss

Book Synopsis: Are you tired of negative peer review comments? Do you want to decrease the time you have in your audits?Understanding risk assessment will enable you to plan and perform your audits in less time and with greater effectiveness. And it will help you pass peer review.From the author of The Why and How of Auditing.You will learn:- how to use preliminary analytics- how to perform internal control walkthroughs- how to gain an understanding of the entity - how to assess inherent risk, control risk, and the risk of material misstatement- how to assess risks at the assertion level- how to link your audit procedures to your risks of material misstatement- how to select your audit responses: test of details, substantive analytics, test of controlsEndorsements follow:Charles Hall has made good on his promise to make risk assessment easy. Charles knows his stuff and generously shares his deep knowledge with auditors! His engaging explanations are a pleasure to read.Leita Hart-Fanta, CPA, CGAP, CGFMFounder of Yellowbook-CPE.comAustin, TexasCharles walks us gently through the risk assessment process using helpful examples and anecdotes. In so doing, he makes a persuasive case that risk assessment is the key to performing audits that are both effective and efficient.Dr. Eddie ThomasGeorgia College & State UniversityMilledgeville, Georgia Charles’ writing style communicates that even the most complicated task is so much easier to understand and undertake when it is explained and described in simple language with practical examples. James J. Newhard, CPAJJN CPAPaoli, PennsylvaniaCharles dissects one of the most difficult and most misunderstood topics in auditing and renders it easy to understand. He provides a holistic and practical approach to risk assessment. Samuel Latimer, CPA, CFERushton and Company, LLCGainesville, GeorgiaIt's easy to look at risk assessment only in terms of what you need to pass peer review. That's a shame because when risk assessment is done well it can laser focus your audits and identify opportunities to help your clients improve their controls. Audit Risk Assessment Made Easy will help you really understand your clients risks and how to respond. James H. Bennett, CPAManaging MemberBennett & Associates, CPAs, PLLCAnn Arbor, MichiganCharles does a fantastic job of explaining the importance of the risk assessment process in present day audits and explains it in a way that can be understood by all levels of auditors. Mark A. Welp, CPA, CFEPrincipal, Audit & AssuranceHolbrook & Manter, CPAsColumbus, OhioCharles takes the time to explain one of the most difficult aspects of auditing in clear and concise language. His knowledge and wisdom is evident throughout the book with his understanding and enthusiasm providing practical guidance for all levels of auditors. I highly recommend this book for auditors from staff to partner to augment their skills in the crucial area.Geoff Fulton, CPAAudit PartnerFulton and KozakAtlanta, GeorgiaCharles has provided a roadmap to the risk assessment process that is clear, concise, and presented in a way that auditors, both new to the profession and with decades of experience, can follow to ensure their audits are planned appropriately to support their opinion—and pass peer review!Chris Banta, CPA, CFE, PartnerBrown, Edwards & Company, LLPMidlothian, VirginiaGet your copy of Audit Risk Assessment now.