The aim of risk assessment in auditing standards is to improve the quantity and effectiveness of audits
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The aim of risk assessment in auditing standards is to improve the quantity and effectiveness of audits by substantially changing the audit practice” (Ramos, 2009). Statements on auditing standards nos. 104-111 provide increased rigor to the audit process in a number of key areas, including the assessments of inherent and control risks and the linking of these risk assessments to further audit procedures. Please explain in at least 2 paragraphs and INCLUDE references.
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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