Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Can you explain how the risk assessment and the audit plan related?

user-image
Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2017/02/18
Deleted user
by Deleted user

risk assessment is critical to the conduct of all financial statement audits.and this is not a default concept. 

Tamer Elbeshbishy
by Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group

Audit process should define the areas of the risk and then to clarify the weakness points found, as well as the method and procedures to mitigate the risk, to really get Net Risk less than the Gross risk at the beginning.

Soliman Abd  ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

Effective planning of an audit is essential to ensure that auditors on the areas of greater risk and carry out their audits efficiency.

More Questions Like This