Risk managementWhat with all the scandals and their aftermaths, the last six years have been pretty exciting for auditing, and it does not look as though things are ready to settle anytime soon. The most recent development to shake up the field was the release of the Auditing Standards Board's new risk assessment standards, which promise to up-end the way auditors plan and strategize their engagements.

Fortunately, PPC has seen fit to offer some useful help to unravel the new standards. Its Guide to Audit Risk Assessment, by former Public Company Accounting Oversight Board chief accountant Douglas Carmichael (who has written on the same topic a couple of times recently for Accounting Today), should help auditors get a grip on the new rules, while its Smart e-Practice Aids on risk assessment ease the process of implementing the new planning, strategy and documentation requirements.

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