Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 218

The auditor should obtain an understanding of the entity’s procedures for business risk, specifically:

 Identifying the risks

 Estimating significance

 Assessing the likelihood of occurrence

 Deciding on an action plan to address the risk

(AU-C 315.16)

Risks can occur because of the following:

 Changes in operating environment

 New personnel

 New or revamped information systems

 Rapid growth

 New technology

 New business models, products, or activities

 Corporate restructurings

 Expanded foreign operations

 New accounting pronouncements

 Changes in economic conditions

(AU-C 315.A90)

NOTE: The auditor’s assessment of inherent and control risks is a separate consideration and not part of the entity’s risk assessment.