Question: Hi class in this weeks discuss we touch on the topic of the Auditors Risk and Legal Liability With the everincreasing number of legal action

Hi class in this weeks discuss we touch on the topic of the Auditors Risk and Legal Liability With the everincreasing number of legal action being bright against auditors this is an ever increasing topic of discussion in the profession Here is an article from the Journal of Accountancy outlines steps to address the issue of risk assessment in a more focused and efficient way Class what are the benefits the author proposes of using the Risks of Material Misstatement ROMM also known as top down approach

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