Auditing question

beavis182 Registered Posts: 130 🎆 🐘 🎆
'What are the main areas of a clients business that the auditor would consider when evaluating the risk level of that business?'

What does that even mean?


  • PGM
    PGM Registered Posts: 1,954
    Depends on the business.

    A lot of it is common sense, consider the area in which it operates, risks specific to the type of trade, and then general risks.

    whether they be controls, financial, legal, theft, or all the management risks of independance etc.
  • beavis182
    beavis182 Registered Posts: 130 🎆 🐘 🎆
    so for Accounting environment is would be things like
    payroll - correct employee details
    correct calculations
    credit control - transaction testing
    purchase ledger - payment of invoices
    transaction testing

    Things like that??
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