Page 38 - Day 2 - Planning an Audit
P. 38

Responding to assessed risk









            • ISA 330 – The auditor’s response to assessed risk states that

                the auditor should obtain sufficient, appropriate audit

                evidence regarding the assessed ROMM through designing

                and implementing appropriate responses to those risks.



            • Respond to risk identified in planning


            • Respond to risks at FS level, Assertion Level and carry out


                those procedures required to comply with the ISAs.


            • How does an auditor respond to risk, and which stage of the

                Audit Process is that?











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