Concept Audit Risk

The Risk Assessment Standards: Key Points to Remember ... for CPAs to control audit risk is to drive detection risk—the risk that our audit procedures

The performance of substantive tests at or near the balance sheet date also lowers detection risk. A planned level of detection risk is set using the audit risk model.

depends on the audit approach. A. INHERENT RISK (IR) 1. Inherent risk is an audit risk which can be defined as the likelihood of a misstatement existing in an

The IIA’s CIA Learning System ... Establish a Risk-Based Internal Audit Plan ... Rank and Validate Risk Priorities to Prioritize Engagements in the Audit Plan ...

Who Should Attend Chief Audit Executives, Internal Audit and Risk Management Heads, Risk Managers, Supervisors, Lead Auditors and Directors from private, public and ...