Back INTRODUCTION AND OVERVIEW
Introduction to Audit Materiality and Risk Assessment2:25
LESSON 1
Set Materiality and Assess Acceptable Audit Risk9:47
Materiality Defined6:07
Evaluating Materiality and Factors Effecting Materiality8:06
LESSON 2
Audit Risk12:12
Financial Difficulties and Inherent Risk10:52
LESSON 3
Makeup of Population9:50
Measurement Limitations6:52
Risk and Materiality to Evidence4:14
Summary2:00
CONTINUOUS PLAY
Audit Materiality and Risk Assessment1:12:25
SUPPORTING MATERIAL
Slides: Audit Materiality and Risk AssessmentPDF
Audit Materiality and Risk Assessment Glossary/ IndexPDF
REVIEW AND TEST
REVIEW QUESTIONSquiz
FINAL EXAMexam
This course will cover both materiality and risk evaluation which requires judgement from the auditor because both concepts directly impact the auditor's planned audit evidence.
At the end of this course, you will be able to:
- Know why materiality is important for an audit of financial statements.
- Know the audit risk model and its components.
- Know the impact of engagement risk on acceptable audit risk.
- Know the relationship of risks to audit evidence.
Learning Objectives
- Identify why materiality is important for an audit of financial statements.
- Explore and make a preliminary judgment about what amounts to consider material.
- Identify the audit risk model and its components.
- Recognize the impact of engagement risk on acceptable audit risk.
- Recognize the relationship of risks to audit evidence.
Last updated/reviewed: August 5, 2023
14 Reviews (50 ratings)
Reviews
Anonymous
()
Great course as a refresher on audit materiality and risk assessment - is useful for anyone inside or outside of public accounting. The slide handouts are lengthy and very thorough - a great resource to have. Highly recommend!
Anonymous
(Auditor)
A lot of good information in this course. I wish that the presenter was more engaging, but it seemed like she was new to recorded courses. The information is still very good.
Eugene Walker
( at NASA)
Course was good. I thought the material was well organized. The slide show was a bit out of sync and so I used the pdf to read along.
Anonymous
(Accounting Manager)
Great overview of what goes into the calculation of materiality by auditors and how the different types of risk impact materiality.
Sean Flynn
(Accounting Manager at Rosemawr Management)
Challenging course on audit, will really be good review for those who have been out of audit for a few years. Good course.
Anonymous
()
This is a very interesting course on audit materiality and risk assessment. The material is very easy to understand
Anonymous
()
This course provides easily understandable information regarding audit risk and how to assess materiality.
Jose Ponce
(Senior Auditor II at CIBC US)
This was a great course that goes into significant detail about materiality in an assurance engagement
William Barron
(Auditor Examiner at Georgia Department of Revenue)
Excellent review of materiality and risk assessment and discussion of the underlying concepts.
Maxwell Hassenstein
( at NeoGenomics)
As a prior auditor, this was a good refresher on how to establish materiality for an audit.
Anonymous
(Consultant)
Very thorough power point presentation and a great review of materiality thought process.
Anonymous
()
Plenty of good slides and material on audit risk and materiality found in this course.
Anonymous
(Director, Governance)
Great deck - very thorough and included all the material covered in this course.
Vivian Jenkins
(Partner at Select Accounting Reporting and Consult..)
Both the slides and the video could need improvemet.
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
