IndigoLearn

Forums

Risk assessment procedures

Is performed 1st thing by auditor, even before forming an overall audit strategy, audit plan because he has to obtain and understanding of the entity and its related internal control to identify and assess the risks of material misstatement whether due to fraud or error at fs and assertion levels. Am i correct?


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

01-Dec-20

21

Answers (1)

Best Answer

Yes. And it continues as a part of audit strategy and plan as well.


Suraj Lakhotia

Suraj Lakhotia

Admin

02-Dec-20

Inter Testimonials
Testimonials CA Foundation July 21
Excel Launch
Study Planner
Business Law - CA Foundation
Fundamentals of Blockchain
Quote
Financial Modelling
Refer
EMI
Past_Exams
Tally + Excel Free
Tally Prime