Abstract
Risk assessment, planning, and budgeting of audits are essential precursors to the successful audit. The determination of risk of a particular subset of accounting operations related to the rendering of the audit opinion-i.e., on whether the accounts have material error when GAAP has been consistently applied. This chapter delineates construction of the risk assessment matrix-a collaborative “learning” worksheet to support a scientific foundation for audit scope, planning, and budgeting prior to initiation of audit field tests.
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Christopher Westland, J. (2024). Risk Assessment and Planning. In: Audit Analytics. Use R!. Springer, Cham. https://doi.org/10.1007/978-3-031-47464-4_4
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DOI: https://doi.org/10.1007/978-3-031-47464-4_4
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