Statistical Data Analysis in Excel Section A: The Audit Risk Model - eLearning
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This e-learning module explains how you can audit more efficiently by taking the familiar concept of the audit risk model and overlaying the costs of audit evidence.
Course Module available for 30 days after purchase.
The audit risk model quantifies the audit process, encouraging audit efficiency and effectiveness.
In this module you will explore the importance of comprehensive planning using the audit risk model and its impact on the amount of auditing you need to undertake. You will also explore the different costs of evidence and their impact on your audit efficiency, as well as the results of overlaying the costs of audit evidence onto the audit risk model.
At the end of this activity you will be able to:
- Explain the audit risk model.
- Differentiate the various costs of audit evidence.
- Recognise how changes in the audit risk model impact upon sample size.
- Understand how world class audit teams gain vast audit efficiencies while also improving effectiveness.
This course equips you with the framework and skills to audit efficiently and effectively.
Assessments required to complete:
Eight short quiz questions
Topic: Audit & Assurance, Reporting
Sub-Topic: Financial Reporting, Financial Statement Audit
Proficiency Level: Foundation, Intermediate
CPD: Upto 1 hours