Detection Risk

2 Posts
1 Sections
1 Types

August 31, 2024 5 min read Definitions

Detection Risk: An Integral Component of Audit Risk

Finance Accounting Detection Risk Audit Risk Auditing Financial Statements Internal Controls

An in-depth examination of Detection Risk in auditing, exploring its historical context, importance, applicability, and management strategies.

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).