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Audit Risk assessment at assertional Level

Discussion in 'ISO 19011 - Auditing Management Systems Guidelines' started by Dizzy01, Sep 22, 2017.

  1. Dizzy01

    Dizzy01 New Member

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    Hello :)

    I've just started an auditing assignment where I need to create the first half of the audit plan. I've done it all but the last part which is where i need some help.

    The last part requires to assess the inherent and control risks at the assertion level of 5 accounts that I recognized earlier in the assignment as being at risk of material misstatement.

    Im having trouble understanding how you identify inherent and control risks for separate accounts. Any advice / examples would be greatly appreciated.

    Thanks a lot
     
  2. Andy Nichols

    Andy Nichols Moderator Staff Member

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    Hi Dizzy. What type of audits are you asking about? Financial? Quality System?
     
  3. Dizzy01

    Dizzy01 New Member

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    Financial
     
  4. Andy Nichols

    Andy Nichols Moderator Staff Member

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    Hi Dizzy - this is a forum for Management Systems and we don't really cover Financial audits. Someone might answer, but don't hold your breath!:)
     

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