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Audit risks

This topic has 2 replies, 3 voices, and was last updated 11 years ago by MikeLittle.

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November 30, 2014 at 7:15 pm #214853
bilal123123
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I just want to ask that when we are explaining audit risks do we have to tell whether its inherent,control or detection risk? Is it necessary?
November 30, 2014 at 9:09 pm #214903
js142004
Member
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no it just categorizes your mind what its looking for. You can have them under headings if its easier for you to spot.
December 1, 2014 at 10:29 am #215065
MikeLittle
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Also, not advised to split control from inherent – at least, talk first about risk of material misstatement and only then split the two components
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