ISA – 330 (The Auditor’s Responses to assessed risks)

Overall Response Assertion Level Response

Audit Risk and Risk Response 1 By:- Haris Hanif

EXAM FOCUS

Required:
Describe the audit risk and explain the auditor’s
response in planning the audit.

ANSWER:

AUDIT RISK AUDITOR’S RESPONSE

Audit Risk and Risk Response 2 By:- Haris Hanif

Audit Risk and Risk Response 3 By:- Haris Hanif
EXAMPLE # 1:
ABC limited had sold its machine.

Audit Risk and Risk Response 4 By:- Haris Hanif

EXAMPLE # 2:
Directors’ bonus is based on the profit figure.

Audit Risk and Risk Response 5 By:- Haris Hanif