Audit risk model
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The audit risk model explains how audit risk (AR) is a function of inherent risk (IR), control risk (CR), and detection risk (DR). AR is minimized by lowering IR through the client's internal controls (CR) and the auditor's testing and review procedures (DR). The components of the model are AR, IR, CR, and DR.
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Audit risk model
- 1. Audit Risk Model Explaining how it works
- 2. The model IR CR AR DR
- 3. The Components AR: Audit Risk IR: CR: DR: Inherent Control Detection Risk Risk Risk
- 4. Minimising AR CR IR DR AR