Performing Efficient Audits of Nonpublic Companies Using the PPC Audit Approach  

This webinar provides practical guidance on how to conduct efficient and effective audits of small businesses using PPC’s Guide to Audits of Nonpublic Companies. Specifically, we will discuss best practices in the following areas:    

• Understanding the entity and its environment   
• Assessing the design effectiveness and verifying the implementation of key controls within the significant classes of transactions
• Using our understanding of the entity and its environment, including internal controls, to better identify and document potential material risks
• Assessing inherent and control risks to derive risks of material misstatement for the relevant assertions on the current year engagement   
• Developing more effective and efficient workprograms in order to reduce risk of material misstatement to an acceptably low level:
• Testing the operating effectiveness of key controls
•  Developing effective and efficient analytical procedures 
•  Choosing items for tests of details (sampling, scoping)

Please see outline below for webinar break schedule.