Level 4 Audit Training covers the important role of the experienced senior in risk assessment planning. The risk assessment standards require the auditor to identify risks, assess risks and then respond to those risks. We’ll review the requirements for each phase of risk assessment. The risk assessment standards also require auditors to understand the entity and its environment including internal controls. Auditors must identify internal controls relevant to the audit and determine whether certain controls are appropriately designed and implemented. This course will walk through how auditors should identify controls and evaluate whether they are properly designed. We’ll also look at best practices in documenting walkthroughs including identification of key controls. The second week will include round tables with discussion of best practices in the area of planning, preliminary analytics, data analytics, preparing clients and staff for new pronouncements, project management, identifying value added services, and reviewing workpapers. Teams will also be assigned a topic to prepare a presentation for the entire class on the last day. We’ll close with a game show to apply what we learned, with the winning group taking home a prize.