external audit risk

external audit risk
See *audit risk (definition 1).

Auditor's dictionary. 2014.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • audit risk — 1. In external auditing, the *risk of giving an inappropriate *audit opinion on the *fair presentation of an organization’s *financial statements. The *sampling of transactions and the *compliance testing of controls cannot offer cast iron… …   Auditor's dictionary

  • Audit risk — (also referred to as residual risk) refers to acceptable audit risk, i.e. it indicates the auditor s willingness to accept that the financial statements may be materially misstated after the audit is completed and an unqualified (clean) opinion… …   Wikipedia

  • Risk assessment — is a common first step in a risk management process. Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat. Quantitative risk assessment requires calculations of… …   Wikipedia

  • Risk — takers redirects here. For the Canadian television program, see Risk Takers. For other uses, see Risk (disambiguation). Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable… …   Wikipedia

  • Audit management — is responsible for ensuring that board approved audit directives are implemented. Audit management oversees the internal audit staff, establishes internal audit programs, and hires and trains the appropriate internal audit personnel. The staff… …   Wikipedia

  • Audit committee — In a publicly held company, an audit committee is an operating committee of the Board of Directors, typically charged with oversight of financial reporting and disclosure. Committee members are drawn from members of the Company s board of… …   Wikipedia

  • Audit — For other uses, see Audit (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management  …   Wikipedia

  • audit committee — A committee of a *board of directors (or similar governing body) that oversees an organization’s auditing and *financial reporting. Under most systems of corporate governance, audit committees tend to be comprised of *outside directors to… …   Auditor's dictionary

  • detection risk — The *risk that the *misstatement of items in *financial statements may not be found through an auditor’s *substantive and Compliance tests. Detection risk is considered alongside *inherent risk and Control risk as one of three components of… …   Auditor's dictionary

  • Audit evidence — is evidence obtained during a financial audit and recorded in the audit working papers. [cite web |title=Audit evidence |publisher=abrema.net |date=undated |url=http://www.abrema.net/abrema/au ev g.html |accessdate=2007 08 07] * In the audit… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”