Audit Risks and Control Deficiencies

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August 17, 2015 at 4:28 pm #267527

musebn
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Dear Sir,

I am self-studying F8 and very confused when outline the answer for these 2 types of questions: audit risk and control deficiency
As I see, the answers are usually formatted as follows:
– first you identify the risks/deficiencies, and explain/describe them.
– then, you have to give audit’s responses/make recommendations.
So, the meaning behind the two questions is the same?
Please help me to clarify this.
Thanks.

September 4, 2015 at 3:06 am #269766

anu1234
Member

Audit Risk is basically Inherent , Control and Detection Risks. So control deficiency will create an audit risk isn’t it ?

I think you’ve to give audit responses only if they ask for it.

Further this is discussion forum. If you need answer from tutor post it in ASK F8 TUTOR session
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