Question
Audit risk may be considered as the product of the various risks which may be encountered in the performance of an audit. How does an
Audit risk may be considered as the product of the various risks which may be encountered in the performance of an audit. How does an auditor keep the overall audit risk of engagements below acceptable limit?
In your answer consider the audit risk model outlined below:
Model
Audit Risk = Inherent Risk x Control Risk x Detection Risk
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Internal Auditing Principles And Techniques
Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke
2nd Edition
0894133268, 978-0894133268
