Account balance - inherent risk, Financial Management

Account balance - Inherent risk

At account balance / class of transaction level

  • Balances susceptible to misstatement.
  • History of errors.
  • Complexity of transactions.
  • Degree of judgement involved in determining account balances.
  • Susceptibility of assets to loss or misappropriation.
  • The quality of accounting systems.
  • Unusual or complex transactions at year end.
  • Transactions not subject to normal processing.

 

Posted Date: 9/3/2013 3:26:31 AM | Location : United States







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