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Significant risk

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Significant risk

  • This topic has 3 replies, 4 voices, and was last updated 10 years ago by ahmedzabith.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • June 12, 2014 at 2:44 pm #176236
    nari
    Member
    • Topics: 259
    • Replies: 175
    • ☆☆☆

    Hello
    In every process, there are risks and controls. My question is how you know which risks and controls are considered significant?

    June 12, 2014 at 6:07 pm #176298
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 8
    • ☆

    so then back to: how do you define “significant”

    June 15, 2014 at 8:05 pm #176667
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10648
    • ☆☆☆☆☆

    I would suggest that significant risks nd controls are those that could lead to material misstatement.

    June 14, 2015 at 7:45 am #256786
    ahmedzabith
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    Significant risks are those risks that have more opportunity to result material mistatements.
    Eg. Risk of fraud, risk of unsual transaction.

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