Risk Assessment of IT Systems
OL1561 | On Demand Course | Update | Self-Study
Description
The issuance of SAS 145 has significantly changed the approach to risk assessment during audit planning, with a greater emphasis on evaluating Information Technology systems. This course provides a detailed overview of the new requirements and explains how IT considerations intersect with audit effectiveness. Participants will gain practical insight into evaluating IT environments, identifying potential weaknesses, and ensuring compliance with updated standards.
In addition to covering technical requirements, the course highlights real-world issues auditors encounter when assessing IT systems, including common challenges, risk factors, and areas demanding heightened professional skepticism. Instructor Jeff Sailor incorporates his well-known video parodies to reinforce concepts, keeping the session engaging and memorable while still focused on strengthening professional practice.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 1.00 | Auditing |
Designed For
CPAs, auditors, and accounting professionals involved in audit planning and risk assessment
Highlights
- Requirements of SAS 145 regarding IT risk assessment
- IT risk factors in audit planning
- Evaluating the reliability of IT systems and controls
- Common problem areas in IT risk assessment
- Linking IT risks to financial reporting risks
- Professional skepticism in IT environments
- Practical steps for integrating IT risk into audit procedures
Objectives
At the end of this course, you will be able to:
- Apply the requirements of SAS 145 to audit planning.
- Perform effective risk assessments of IT systems.
- Identify areas of concern within IT environments that affect audit outcomes.
- Evaluate IT controls for adequacy and reliability.
- Assess how IT risks impact financial reporting processes.
- Distinguish between high-risk and low-risk IT system components.
- Integrate IT risk considerations into overall audit risk assessment.
- Develop appropriate responses to identified IT-related risks.
Notes
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Prices
- Member (Early Bird)
- $59.00
- Non-Member (Early Bird)
- $99.00
- Member
- $59.00
- Non-Member
- $99.00
Instructors
Jeff Sailor
Jeff Sailor, CPA, received a master's degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.
Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional "boring CPE." Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He's also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He's also a featured speaker at national conferences as well as at state and regional meetings.
For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.
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