Assessing and Responding to Risks in a Financial Statement Audit: Part Ⅱ

摘要

This is the second of two articles describing the requirements of new guidance from the Auditing Standards Board (ASB). The first article discussed the process of assessing risks and controls leading to the concept of the risk of material mis-statement (see "Assessing and Responding to Risks in a Financial Statement Audit," JofA, Jul.06, page 43). This article discusses how the au- ditor responds to the risk of material mis-statement in designing and performing audit procedures.