Explain about the audit risk, Financial Management

Assignment Help:

Audit risk

Obtain understanding of accounting and internal control systems.
Sufficient to plan audit and develop effective audit approach.
Professional judgement to assess "audit risk "components.
Design procedures to ensure it's reduced to an acceptable low level.

"Audit risk": risk that auditor may give an inappropriate opinion on financial statements. Also called the "ultimate risk"

Related Discussions:- Explain about the audit risk

Return payment method, when asked to calculate return method given cash flo...

when asked to calculate return method given cash flow before depreciation how do you do it

What do you signify by receivables management, Q. What do you signify by Re...

Q. What do you signify by Receivables Management? Ans. Receivable Management: - The term receivables refer to debt outstanding to the firm by the customers resulting from sale

What are the misstatements, Q. What are the misstatements? A Misstatem...

Q. What are the misstatements? A Misstatement is Inconsequential - If a reasonable person would determine after considering the possibility of further undetected misstatement

Determine the analytical procedures of auditors, Analytical procedures of a...

Analytical procedures of auditors Auditors must apply analytical procedures at the planning and overall review stage of audit. Analytical procedures include the considerati

Emerging market bonds, Emerging market bonds are the bonds offe...

Emerging market bonds are the bonds offered by less developed countries. The government normally issues them. These exclude borrowings from gove

Problem in the determine of cost of the capital, Q. Problem in the determin...

Q. Problem in the determine of cost of the capital? Conceptual controversies regarding the relationship between the cost of the capital and the capital structure: different the

Define discounting the cash flows in the apv model, What is the intuition o...

What is the intuition of discounting the several cash flows in the APV model at fixed discount rates? The APV model is a value-additivity method where total value is defined by t

Define merger activity in the past decade affected assets, How has the merg...

How has the merger activity in the past decade affected the concentration of assets in the banking industry? A: Over the last decade, some commercial banks declined by twenty-o

Discount and premium, What is the Discount and Premium? Describe please.

What is the Discount and Premium? Describe please.

Semester 1, which type of financing is appropriate to each firm

which type of financing is appropriate to each firm

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages