department. Suggests that individual auditors′ risk‐taking propensity and tolerance for ambiguity can adversely affect many …

; developing the basic plan to achieve the objective; consideration of such aspects as risk and materiality; anticipation of …

select a procedures‐driven approach or a risk‐driven approach. In a procedures‐driven approach, the audit procedures are … commonly employed or because they were used on the last examination of the auditee. In a risk‐driven approach, specific … procedures are planned only after consideration of the risks. A risk‐driven approach is generally more effective and efficient …

Explores the state of the art in internal auditing risk assessment techniques by reviewing professional requirements as … stated in Statement of Internal Auditing Standards (SIAS) No. 9 and then examining and discussing currently available risk … assessment techniques. Models explored in the study include the traditional risk assessment model and those by Wilson and Randon …

Risk assessment is one of the major steps in the audit‐planning process. The increase in the number of incidents of … auditors′ negligence has focused attention on this important step. Risk is defined in a statement by the Internal Auditing … risk can be faulty decisions as a result of utilizing inaccurate or incomplete information; inappropriate accounting …

performing the audit work: audit risk and materiality. Differences between international and US guidance would imply that the two …

Highlights that the multiplicative risk model which forms the basis of auditing standards in both the USA and the UK … only considers the risk of incorrect acceptance of an account balance. Points out, however, that when planning audit tests …, the auditor also faces a risk of incorrect rejection of the sample under consideration if an unrepresentative sample is …