The document estimates the risk embraced by Colombian commercial banks, and establishes a measurement of excessive risk …-taking that is consistent with such estimation. The construction of the excessive-risk measurement follows the basic efficient …-portfolio framework, in which the variance of an aggregate portfolio is minimized subject to an observed return. Return and risk-taking in …

In A Conceptual Framework for Auditing (Pratt & Van Peursem, 1993) it was argued that audit risk, materiality and … issues. This paper compares the different positions in respect of audit risk, materiality and judgement that have been …