06-05-2005, 02:35 AM
AOA Seniors,
I want to understand the proper concept of Inherent Risk and Control Risk.Audit Risk is the term that means, there is always a possibility that the auditor's opinion is wrong. But I still have not understood its two further classifications i.e, Inherent Risk and Control Risk.
Plz dont reproduce the contents of Auditing Standards.
I got Millechamp's Auditing along with Autiting Standards, is it useful, because the latest edition is not available.
Ace
I want to understand the proper concept of Inherent Risk and Control Risk.Audit Risk is the term that means, there is always a possibility that the auditor's opinion is wrong. But I still have not understood its two further classifications i.e, Inherent Risk and Control Risk.
Plz dont reproduce the contents of Auditing Standards.
I got Millechamp's Auditing along with Autiting Standards, is it useful, because the latest edition is not available.
Ace
