by Steven M. Bragg (Author)

Auditors use the audit risk model to determine the total amount of risk associated with an audit. In The Audit Risk Model manual, we describe how this model works and how the auditor can use it to manage audit risk. We note situations in which the model indicates unacceptable audit risk, as well as cases in which expanded audit procedures can overcome these concerns. The manual also addresses the concepts of audit evidence and audit sampling.