Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1113958 | Procedia - Social and Behavioral Sciences | 2014 | 5 Pages |
Abstract
This paper examines the impact of the assessment of business risk on the auditor's choice of audit procedure. Business risk ultimately translates into the risk of financial statement error. In order to test the hypothesis that auditors change audit procedures in response to business risk, researcher provided each subject with a statement of risk, and a statement of risk with an additional environmental issues that will enhance business risk. Respondents were provided with the audit procedures for each risk. The results would indicate whether auditor's assessment of relevant audit procedures is affected by business risk.
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