Presentation is loading. Please wait.

Presentation is loading. Please wait.

Business Risk.

Published byJessie Malone Modified over 5 years ago

Similar presentations

Presentation on theme: "Business Risk."— Presentation transcript:

1 Business Risk

2 Business Risk Connected with the operation of the Company
Audit Risk Connected with the opinion of the External Auditor

3 However Inherent & Control Risk Assessed during the planning of the External Audit
audit risk these are limited to risks pertaining to the financial statements, but the same risks that are inherent audit risks can also be business risks. For example, a business with significant trade receivables may have the business risk that cash is not recovered from receivables, and the audit risk that trade receivables are overstated.

4

5

6

7

8

Download ppt "Business Risk."

Similar presentations

1 Auditing Sales and Trade Receivables 1 Audit Objectives The audit objectives for sales and trade receivables relate to obtaining sufficient evidence.

1 Auditing Sales and Trade Receivables 1 Audit Objectives The audit objectives for sales and trade receivables relate to obtaining sufficient evidence.
CHAPTER 14 AUDITING THE REVENUE CYCLE Fall 2007

CHAPTER 14 AUDITING THE REVENUE CYCLE Fall 2007
CIA Annual Meeting Assemblée annuelle de l’ICA June 29 & 30, 2006  Les 29 et 30 juin 2006 Ottawa, Ontario D.J. Oakden Session PC-4 Impact on Discounting.

CIA Annual Meeting Assemblée annuelle de l’ICA June 29 & 30, 2006  Les 29 et 30 juin 2006 Ottawa, Ontario D.J. Oakden Session PC-4 Impact on Discounting.
The audit process: assuring the integrity of public spending David Watkins Chair, Accounting and Auditing Standards Panel ICPS Public Accounts Committees.

The audit process: assuring the integrity of public spending David Watkins Chair, Accounting and Auditing Standards Panel ICPS Public Accounts Committees.
Presented by, Stephen Mann, CPA/ABV. Accountants Report Balance Sheet Profit and Loss or Income Statement Statements of Cash Flows Notes to Financial.

Presented by, Stephen Mann, CPA/ABV. Accountants Report Balance Sheet Profit and Loss or Income Statement Statements of Cash Flows Notes to Financial.
Audit Committee in Albania Legal framework Law 9226 /2006 “On banks in Republic of Albania” Law 9901/2008 “On entrepreneurs and commercial companies” Corporate.

Audit Committee in Albania Legal framework Law 9226 /2006 “On banks in Republic of Albania” Law 9901/2008 “On entrepreneurs and commercial companies” Corporate.
FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT Financial Statement Fraud CHAPTER 11.

FRAUD EXAMINATION ALBRECHT, ALBRECHT, & ALBRECHT Financial Statement Fraud CHAPTER 11.
Internal Control Pertemuan 05 s.d 06 Matakuliah: F0712 / Lab Sistem Informasi Akuntansi Tahun: 2007.

Internal Control Pertemuan 05 s.d 06 Matakuliah: F0712 / Lab Sistem Informasi Akuntansi Tahun: 2007.
The Elements of Auditing. Types of Audit Evidence Real Evidence – Physical (eg. building, inventory) – Nonphysical (eg. goodwill, rights) Documentary.

The Elements of Auditing. Types of Audit Evidence Real Evidence – Physical (eg. building, inventory) – Nonphysical (eg. goodwill, rights) Documentary.
M ODULE 12 F INANCIAL S TATEMENT A UDIT E NGAGEMENT L ETTER CA. S RIPRIYA K UMAR Practical/ Article Training.

M ODULE 12 F INANCIAL S TATEMENT A UDIT E NGAGEMENT L ETTER CA. S RIPRIYA K UMAR Practical/ Article Training.
Chapter 4 IDENTIFYING RISKS AND CONTROLS IN BUSINESS PROCESSES.

Chapter 4 IDENTIFYING RISKS AND CONTROLS IN BUSINESS PROCESSES.
The 30,000-foot View of Financial Auditing. Financial Statements -Income Statement -Balance Sheet -Cash flow Statement -Notes to F/S Audit Opinions -Financial.

The 30,000-foot View of Financial Auditing. Financial Statements -Income Statement -Balance Sheet -Cash flow Statement -Notes to F/S Audit Opinions -Financial.
Communications from the committee to the independent auditor: Communications from the independent auditor to the audit committee:

Communications from the committee to the independent auditor: Communications from the independent auditor to the audit committee:
Learning Objectives LO1 Describe the association framework. LO2 Determine whether a PA is associated with financial statements. LO3 Describe the three.

Learning Objectives LO1 Describe the association framework. LO2 Determine whether a PA is associated with financial statements. LO3 Describe the three.
Auditing The Revenue Cycle Prepared by: Sartini, S.E., M.Sc., Akt.

Auditing The Revenue Cycle Prepared by: Sartini, S.E., M.Sc., Akt.
Learning Objectives LO1 Describe the conceptual audit risk model and its components. LO2 Explain the usefulness and limitations of the audit risk model.

Learning Objectives LO1 Describe the conceptual audit risk model and its components. LO2 Explain the usefulness and limitations of the audit risk model.
Learning Objectives LO1 Prepare reports for review and compilation of unaudited financial statements, given specific facts. LO2 Write a report on a review.

Learning Objectives LO1 Prepare reports for review and compilation of unaudited financial statements, given specific facts. LO2 Write a report on a review.
Chapter 7 Auditing Internal Control over Financial Reporting McGraw-Hill/IrwinCopyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 7 Auditing Internal Control over Financial Reporting McGraw-Hill/IrwinCopyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Learning Objectives LO1 Explain the role of professional judgment in audit sampling decisions. LO2 Distinguish audit sampling work from nonsampling work.

Learning Objectives LO1 Explain the role of professional judgment in audit sampling decisions. LO2 Distinguish audit sampling work from nonsampling work.
Advanced Auditing Materiality and the Audit Risk Model

Advanced Auditing Materiality and the Audit Risk Model

Similar presentations

Ads by Google