Audit risk (also referred to as residual risk) as per ISA 200 refers to the risk that the auditor expresses an inappropriate opinion when the financial statements are materiality misstated. This risk is composed of: Inherent risk (IR), the risk involved in the nature of business or transaction.
Audit risk (also referred to as residual risk) as per ISA 200 refers to the risk that the auditor expresses an inappropriate opinion when the financial statements are materiality misstated. This risk is composed of: Inherent risk (IR), the risk involved in the nature of business or transaction.
Source: Wikipedia "Audit risk" · CC BY-SA 4.0
Share this article: X · Bluesky