Risk-based Auditing: Are there appropriate disclosures regarding going concern issues?

To ensure arithmetical accuracy, you used a risk-based audit approach to recalculate your organization calculations on a sample basis, an accountant engaged to perform an audit must evaluate conditions or events discovered during the engagement that raise substantial doubt regarding going concern issues. Of course, when organizations are under financial Read more…

Risk-based Auditing: Is the cost of obtaining additional evidence worth the benefits to be obtained in terms of supporting the finding?

The internal audit function is separate from, but complementary to, the day-to-day monitoring of internal controls and the conduct of continual management improvement, which are within the responsibility of operating units, if appropriate, consider risk audit reports on key business areas to assess the level of business risk exposure. Equally Read more…