Open AccessSignificance of risk assessment metric in audit of financial statements and reports
Author(s) -
Vilmos Wágner
Publication year - 2009
Publication title -
acta agraria debreceniensis
Language(s) - English
Resource type - Journals
ISSN - 2416-1640
DOI - 10.34101/actaagrar/34/2844
Subject(s) - audit , business , accounting , risk management , risk analysis (engineering) , accounting information system , accounting management , financial audit , it risk management , information technology audit , internal audit , risk management information systems , process (computing) , process management , information system , finance , computer science , management information systems , engineering , joint audit , electrical engineering , operating system
Management and decision-support of today’s businesses require design and application of management reports based and high-end controlling systems. One of the main source of information for controlling systems is financial accounting that should be designed to support planning, controlling and monitoring systems. Financial and accounting information is essential for decision making support of organizations. Thereforeeligible assurance is needed that these information are true and fair. Internal and external financial audits as assurance qualifiers are linking to the controlling systems through assurance. Weaknesses of and threats to controlling systems shall be recovered and communicated to the management during qualifying process. Recovering of threats should be based on risk analysis, assessment. In this study I would like to present some methods and tools of risk assessment of financial reports, statements and a way on they can be further developed.