Identifying and Assessing The Risks of Material Misstatement
Identifying and Assessing The Risks of Material Misstatement
ASSESSING THE
RISKS OF
MATERIAL
MISSTATEMENT
Objective:
The objective of the auditor is to identify and assess the risks
of material misstatement, whether due to fraud or error, at the
financial statement and assertion levels thereby providing a
basis for designing and implementing responses to the
assessed risks of material misstatement.
Requirements:
RISK ASSESSMENT PROCEDURES AND
RELATED ACTIVITIES