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Q1 Risk Types

Forums › ACCA Forums › ACCA AAA Advanced Audit and Assurance Forums › Q1 Risk Types

  • This topic has 2 replies, 3 voices, and was last updated 5 years ago by ravi.
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  • August 26, 2018 at 12:46 pm #469509
    mwp1
    Member
    • Topics: 1
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    Hi, can anyone confirm what type of risk was asked for in the last few exams – Q1’s?

    August 27, 2018 at 5:06 pm #469662
    Billy
    Member
    • Topics: 20
    • Replies: 118
    • ☆☆

    1. Business risk
    2. Audit risk

    Mainly, examiner published only past exams with Audit risks.

    November 29, 2018 at 1:07 pm #486411
    ravi
    Participant
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    • Replies: 3
    • ☆

    1) Business Risk (Reasons why Business may suffer; declingin sales, bad rep, fines and penalties, key staff/customer leave etc)
    2) Audit Risk (RoMM + Detection Risk)
    3) Risk of Material Mistatement (FS items that might be wrong)

    Agree with Billy, it’s normally Audit risk but be prepared for all three!

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