strategicsystemsauditing-wenkub
2023-05-28 15:42:17 本頁(yè)面
【正文】 Key Risk Key Risk Key Risk Key Risk Key risks are those conditions or factors within an audit that, in the judgment of the auditor, give rise to a greater risk of material financial misstatement or other matters resulting in the issuance of an inappropriate audit report. 9 Scoping: Analytical Procedures – High Level ? Understand the business ? Identify areas of risk – Disaggregated Account Level ? Determine the nature, timing amp。O ? Completeness ? Understandability ? Accuracy/Valuation 12 13 Assess implications for business and audit – Is risk identification plete? – Are they prioritized properly? – Are there controls to minimize risks to acceptable level? – Do accounting choices and disclosures adequately reflect uncontrolled risks? – Groups residual business risk by financial statement assertion 14 Scoping Translated into Audit Strategy Where controls over significant account balances or classes of transaction are not aligned, we will need to perform substantive tests of details. Stakeholders Risks Controls Alignment Business Objectives 15 Business Measurement ? Use the prehensive business knowledge decision frame to develop expectations about key assertions embodied in the overall financial statements ? Compare reported financial result to expectations and design additional audit test work to address any gaps between expectations and reported results ? Transaction based auditing procedures are applied to nonroutine transactions and nonroutine and highly judgmental accounting estimates (p. 36). ? Computer audit techniques f
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