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Title: In practice, auditors rarely assign numerical probabilities to inherent risk, control risk, or audit ... Post by: Cadish on Jul 19, 2017 In practice, auditors rarely assign numerical probabilities to inherent risk, control risk, or audit risk. It is more common to assess these risks as high, medium, or low. For each of the four situations below, fill in the blanks for detection risk and the amount of evidence you would plan to gather ("planned evidence") using the terms high, medium, or low.
SITUATION 1 2 3 4 Audit risk Low Low High High Inherent risk High Low Low Low Control risk High Low Medium Low Detection risk ________ ________ ________ ________ Planned evidence ________ ________ ________ ________ Title: Re: In practice, auditors rarely assign numerical probabilities to inherent risk, control risk, or ... Post by: victrox on Jul 19, 2017 Content hidden
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