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The Audit Risk Model: Your First Step in Risk Assessment

by Bob Dohrer, CPA | May 03, 2019   ()

The audit risk model is the foundation of any audit. This might seem like CPA 101, but are you correctly applying it to your engagements? In doing so, your first consideration is your client’s risks of material misstatement (RMM), which is made up of inherent risk and control risk. 
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Source: CPA Practice Advisor

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