Audit Risk Model

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1 Sections
1 Types

August 31, 2024 4 min read Definitions

Substantive Testing: Detailed Testing of Specific Transactions and Balances

Accounting Auditing Substantive Testing Detection Risk Audit Risk Model Accounting Procedures Verification

Substantive Testing involves detailed accounting procedures aimed at verifying the accuracy of specific transactions and balances, essential for managing detection risk within the Audit Risk Model (ARM).

August 24, 2024 4 min read Definitions

Audit Risk Model: Comprehensive Explanation of Risk Assessment

Accounting Finance Audit Risk Model Risk Assessment Auditing Standards Financial Statements Accounting

A detailed exploration of the Audit Risk Model, highlighting the components of risk assessment and its significance in auditing.