Open AccessEmployment of Audit Risk Models
Author(s) -
Rita Jankūnaitė,
Rasa Kanapickienė,
Gailutė Gipienė
Publication year - 2005
Publication title -
ekonomika
Language(s) - English
Resource type - Journals
eISSN - 2424-6166
pISSN - 1392-1258
DOI - 10.15388/ekon.2005.17524
Subject(s) - audit , audit risk , audit plan , internal audit , business , joint audit , audit evidence , accounting , information technology audit , risk analysis (engineering) , consistency (knowledge bases) , risk assessment , performance audit , risk model , computer science , computer security , artificial intelligence
Different audit risk evaluation models presented in the literature and looks into their advantages and disadvantages are analysed. However, scientific works do not offer a universal audit risk evaluation model to make the auditor’s life easier when the audit risk has to be evaluated. Following the research of audit risk evaluation performed by Lithuanian auditors and in view of the related models provided in the literature, some improvements to the audit risk model are proposed, which enable evaluating the audit risk components, i.e. the audit risk structure, and reveals the consistency of audit risk evaluation in the auditing process, i.e. discloses the dynamic picture of the audit.