RISK-ASSESSMENT PROCEDURES AND ESTABLISHING THE SIZE OF SAMPLES FOR AUDITING FINANCIAL STATEMENTS

Daniel Botez

doi:10.29358/sceco.v0i20.283

RISK-ASSESSMENT PROCEDURES AND ESTABLISHING THE SIZE OF SAMPLES FOR AUDITING FINANCIAL STATEMENTS

Authors

Daniel Botez University Vasile Alecsandri from Bacau

DOI:

https://doi.org/10.29358/sceco.v0i20.283

Keywords:

audit of financial statements, inherent risk, materiality

Abstract

In auditing financial statements, the procedures for the assessment of the risks and the calculation of the materiality differ from an auditor to another, by audit cabinet policy or advice professional bodies. All, however, have the reference International Audit Standards ISA 315 “Identifying and assessing the risks of material misstatement through understanding the entity and its environment” and ISA 320 “Materiality in planning and performing an audit”. On the basis of specific practices auditors in Romania, the article shows some laborious and examples of these aspects. Such considerations are presented evaluation of the general inherent risk, a specific inherent risk, the risk of control and the calculation of the materiality.

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Published

25.12.2014

Issue

No. 20 (2014)

Section

Articles

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How to Cite

Botez, D. (2014). RISK-ASSESSMENT PROCEDURES AND ESTABLISHING THE SIZE OF SAMPLES FOR AUDITING FINANCIAL STATEMENTS. Studies and Scientific Researches. Economics Edition, 20. https://doi.org/10.29358/sceco.v0i20.283