UNDERSTANDING THE AUDIT RISKS AND DETECTING THOSE WHO ARISE FROM CURRENT ECONOMIC CONDITIONS Cover Image

UNDERSTANDING THE AUDIT RISKS AND DETECTING THOSE WHO ARISE FROM CURRENT ECONOMIC CONDITIONS
UNDERSTANDING THE AUDIT RISKS AND DETECTING THOSE WHO ARISE FROM CURRENT ECONOMIC CONDITIONS

Author(s): Sorina Ioana Coroiu, Dana Simona Dragoş
Subject(s): Economy
Published by: Editura Eurostampa
Keywords: Audit risk; Material Misstatement; ISA; Risk Model

Summary/Abstract: A greater demand for monitoring the financial reporting process can arise from a number of characteristics of the firm and its environment or from external forces. In forming an opinion on the financial statements, an auditor faces various audit-related risks and risk components; he needs to understand the audit risk and their interaction with the objective of obtaining sufficient appropriate audit evidence. The purpose of this paper is to clarify the audit risks and to detect those who arise from the current economic conditions. We found out that auditor should perform more effective audit procedures, should also increase the extent of particular procedures and we highlight some audit risks that may affect an entity

  • Issue Year: XVI/2010
  • Issue No: 16
  • Page Range: 555-560
  • Page Count: 5
  • Language: English
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