Auditing - The Risk-Based Approach Introduction Risk, plays a large part in the world of Auditing. Audit risk, represents risk to an auditor or an audit firm, as the risk of paying damages to a client may arise out of negligent work when trying to show a true and fair view of a set of company accounts. All audit work involves some level of risk; this may be because a set of company accounts have …showed first 75 words of 1501 total…

…showed last 75 words of 1501 total…be identified '...in which auditors' judgement of inherent risk and control risk can become more accurate and consistent'. REFERENCES Grobstein M, Loeb S, Neary R, (1985) Auditing: A Risk Analysis Approach, Richard D. Irwin, Inc Millichamp A (2002) Auditing, 8th Edition, Continuum Sherer M, Turley S, (1998) Current Issues in Auditing, 3rd Edition, Paul Chapman Venables J.S.R, Impey K.M, (1991) Internal Audit, 3rd Edition, Butterworth & Co Woolf E (1988) Auditing Today, 4th Edition, Prentice Hall