Intended for auditors with previous risk assessment experience, this module provides the opportunity to take the focus on the linkage between risk assessment and planned audit procedures to the next level. Participants will take a deep dive into various aspects of risk assessment, including understanding entity-wide controls and assessing financial statement-level risk and assertion-level risk. Key topics and issues are presented using a case study that flows throughout the module. The final activity pushes participants to draw on the knowledge gained during risk assessment to determine if substantive workpaper documentation includes the appropriate linkage between risks and procedures performed.