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Examine about the Risk-based auditing
A risk based audit will be reviewing the risk management process and considering main risks of the organisation as a whole.
Risk management procedures are used to assess what risks will impact on business. These are not only within the organisation however much wider and look outside the business externally into its environment. If these risks aren't mitigated then business maybe severely affected resulting in the business not continuing in the future. Illustrations are competition, latest business developments, the state of the economy and social trends.
Limitation of profit maximisation -Quality of Benefits Probably the most vital technical limitation of profit maximisation as an operational objective, is that it ignores qua
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explain the significance of operating leverage and financial with the help of example?
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