Open AccessMETHODOLOGICAL ASPECTS OF EVALUATION OF RISK IN AUDIT
Author(s) -
Roman Romanovych Kulyk,
Yuliia Romanivovak
Publication year - 2018
Publication title -
ekonomìčnij analìz
Language(s) - English
Resource type - Journals
eISSN - 2219-4649
pISSN - 1993-0259
DOI - 10.35774/econa2018.01.142
Subject(s) - audit , audit risk , audit plan , risk assessment , risk analysis (engineering) , identification (biology) , information technology audit , key (lock) , process (computing) , point (geometry) , business , internal audit , accounting , computer science , joint audit , mathematics , computer security , botany , geometry , biology , operating system
Audit is always accompanied by an appropriate audit risk. There is currently no practical way to reduce it to zero. Domestic and foreign experts point out that audit risk belongs to one of the fundamental and complex categories of audit, and its identification and evaluation are considered the key elements of the audit process. Audit risk by its nature implies uncertainty, so its assessment may not be ideal. Any method of risk assessment aims to maximize the approach to the real result, but does not allow avoiding errors.