Ryzyko badania sprawozdania finansowego zakładu ubezpieczeń
Insurance company financial statement audit risk

Summary/Abstract: Financial statement of an insurance company is subject to obligatory audit by an independent auditor. In view of specific nature of insurance activity the audit of insurance company carries a substantial risk of delivering audit opinion which does not reflect properly the real financial standing of the company. The paper presents the concept and essence of audit risk and its components: risk of omission and risk of material misstatement as well as factors which determine these kinds of risk. There are presented also procedures of audit risk appraisal and attempts to identify types and areas of audit risk in an insurance company. Finally, there are analyzed consequences of acceptance of a certain level of audit risk for audit correctness.

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