Using memorable metaphors and an interactive escape-room-style class activity, this course introduces the fundamental concepts in risk-based auditing, including relevant professional standards for government audits and the audit risk model. Participants will explore the audit risk model, key risk-based auditing terminology, and the role risk assessment plays in planning and performing an effective government audit.

Through practical examples and engaging activities, participants will examine how auditors identify and evaluate potential risks of material misstatement in governmental audit engagements. The course also connects risk assessment concepts to relevant professional standards for government audits, helping participants understand how those standards inform the audit process.

Designed for professionals who are building their governmental auditing skills, this hands-on course provides an approachable way to apply risk assessment concepts to real-world government audit scenarios. Participants will leave with a stronger understanding of how to recognize audit risks, evaluate their potential impact, and apply a risk-based approach throughout the governmental audit process.