Page 7 - PowerPoint Presentation

AN OVERVIEW OF THE AUDIT PROCESS

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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