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Section III Explanation of part of model. different engagements as follows: Engagement Audit Assume that an auditor uses the audit risk model on two Inherent

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Section III Explanation of part of model. different engagements as follows: Engagement Audit Assume that an auditor uses the audit risk model on two Inherent Risk Control Risk Detection Risk (as calculated) Risk .80 .0S 05 .25 50 . 25 .25 to be determined A. Calculate "detection risk". Compared to engagement I, wil.1 the auditor do more or less audit work" on engagement II NO Discussion is necessary B. "Tell a story" to explain "part A" in a manner that someone Not familiar with the audit risk model would likely understand. DO NOT refer to the audit risk model directly in your discussion A. Detection risk The auditor will do on engagement II compared to I. Do NOT Discuss B. Story [Do NOT refer directly to the audit riak model]

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