Audit Standards Update: Clarifying Risk Assessment | 4171060C

Date :
October 26, 2017 8:30 AM - 4:30 PM
Location :
San Luis Obispo CE Week
Facility :
Embassy Suites San Luis Obispo
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Level of Difficulty :
Member Price :
Nonmember Price :
CPE Credits :
CPE 8.00, AA 8.00, FR 4.00, GT 8.00
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With peer review results in and more than a few years' worth of experience under the profession's collective belt, it's time to fine-tune implementation of the risk assessment standards. These standards, designed to eliminate the connect-the-dots methodology of checklist auditing and add critical thinking back into the audit process, remain a problem area for many firms. The result? Engagement and peer review deficiencies.

This course has been updated for the AICPA Clarity Standards that expanded the risk assessment methodology to new additional audit areas. Break down this complex and misunderstood subject with an easy-to-understand approach.


  • Understand the audit risk model.
  • Determine how the standards affect your audit practice.
  • Identify additional procedural changes requiring firm implementation.
  • Determine an implementation plan and the procedural and documentation requirements embodied in these standards.
  • Recognize the impact of recently enacted changes resulting from the AICPA Clarity Project.

Major Subjects:

  • Assessing the risk of material misstatement.
  • Mandatory risk assessment procedures.
  • Evaluating internal controls.
  • Responding to risk assessment with appropriate audit procedures.
  • Complying with revised and expanded documentation requirements.

Advanced Prep:


Misc. Information:

Wireless Internet access, lunch and discounted parking will be provided for this event and are included in your registration fee.

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Level of Difficulty:
Field of Interest:

A working knowledge of audit standards is beneficial but not critical.

Designed For:

Auditors and industry CPAs who require an in-depth understanding of the assertion-based approach to audit risk assessment.


Thomas E Noce, CFE, PFP

Tom Noce is a graduate of Rutgers University with a degree in accounting. Noce began his career with a large local accounting firm in New Jersey, where he concentrated in auditing and accounting for non-profit organizations and government related agencies. In 1985, he joined a Palm Springs firm where he was a shareholder from 1995 to 2003. In 2003, Noce opened his own practice in Palm Springs. His professional experience includes a variety of clients, including tribal entities, hotels, real estate, construction, homeowners’ associations, country clubs, non-profit organizations and others. His current practice emphasis focuses on tax and accounting issues related primarily to the real estate and hospitality industries. He also performs special engagements dealing with internal controls and fraud prevention and detection. Noce has authored and taught a number of courses for the CalCPA Education Foundation and chaired its first two fraud conferences as well as two audit and accounting conferences. In 2004 and 2010 he received the Foundation’s Award for Instructor Excellence. Currently, Noce presents six courses for the Foundation in the areas of fraud, audit and accounting standards and risk-based auditing.


  • Materials - Hardcopy Textbook
  • Materials - ebook