Procurement Audit Risk

Audit risk = Interest risk x Control risk x Detection risk

  • Audit risk – Auditor may give wrong information on audit statement.
  • Control risk – Risk that internal control system will fail to prevent fraud and errors from occurring.
  • Detection risk – Risk that the auditor‘s substantive procedures will not detect mistakes in the procurement system.
(Visited 68 times, 1 visits today)
Share this:

Written by