audit risk.

Q: Define asset-backed security

A: Answer: Asset backed security is nothing but a security is made up of other financial securities.…

Q: This term is synonymous with acceptable audit risk.

A: Explanation and answer is given below,

Q: Issues that can be caused by the following risks: Execution risk Strategic risk Technology risk…

A: Operational risk management (ORM) is characterized as a continuous cyclic process that comprises…

Q: Define Risk aversion

A: A risk averse saver is an investor who favors inferior returns with recognized risks somewhat than…

Q: Define enterprise risk management.

A: It is basically a strategy that helps businesses to find out the potential various type of risks…

Q: Define within-firm risk

A: Within-firm risk: Corporate (within-firm) risk is a hazard identified with an individual business.…

Q: Define Risk in general

A: In finance, risk is defined as the level of vulnerability that potentially creates financial loss…

Q: What types of information must be considered when it comes to risk and return?

A: Risk and return go hand in hand both are related to each other.There is direct correlation between…

Q: Define relevant risk

A: For investors, risks are classified into the following two types: Systematic risk/relevant…

Q: how does communication aid in assessing inherent risk, control risk and detection risk

A: Factors of Communication aid in Assessing Inherent Risk, Control Risk and detection Risk There are…

Q: What is event risk?

A: Event risk is the likelihood of a sudden event adversely affecting an organization, industry, or…

Q: Define diversifiable risk

A: Diversifiable risk It is special to a given business or industry. Regularly known in the feeling of…

Q: quantitative risk analysis:

A: Quantitative risk analysis assess the risk associated with a particular monetary item.

Q: Describe Detection Risk.

A: Risk: It is the uncertainty about the future events of the company. The adverse chances of choosing…

Q: Discuss audit planning.

A: An audit is a type of professional service provided to a customer. The evaluation of accounting,…

Q: Describe Inherent Risk.

A: Definition:   Audit Planning: Audit planning is the first step in the auditing process. The auditor…

Q: Discuss and explain the sub-processes of risk management

A: Risk management refers to those processes and steps which a finance manager undertakes to reduce the…

Q: Describe Control Risk

A: Audit Risk: The risk of issuing an unqualified audit report due to failure in detecting material…

Q: List the causes of information risk,and explain how this risk can bereduced

A: Information Risk – It’s a kind of risk which occurs whenever various business risk decision are made…

Q: operational audit

A: Operational audit is the type of audit service that the review is mainly focused on the key…

Q: Define Operational risk.

A:

Q: Discuss about systematic and unsystematic risk.

A: Risk refers to the movement or fluctuation in the value of an investment. The movement can be…

Q: What principles are essential to an effective risk management program?

A: All types of organizations face different types of risks which may affect their chances of success.…

Q: IT Governance Risk issues

A: IT Governance: It is a framework that assists the organizations in ensuring that the business…

Q: Distinguish between: Systematic risk and Unsystematic risk

A: The risks faced by the company arises from both micro as well as macro levels. The risk arising out…

Q: Provide a comprehensive definition of risk

A: Risk is described in financial terms as the probability that the actual gains of an event or…

Q: n planning an audit?

A: Auditors Responsibility is to plan the audit of financial statements so that it helps the auditor to…

Q: define auditor?

A: Auditor is the person who is responsible for audit work. Audit means checking, verifying and…

Q: audit

A: Not likely to a violation     as auditor can show his work to any outsider if required by law

Q: Explain relevant risk

A: Introduction: Risk can be characterised in terms of the uncertainty of future consequences resulting…

Q: Define business risk

A: A business risk is an inherent risk arising due to the economic activities performed by the…

Q: Define the term assurance.

A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…

Q: Why is identification of risks, by listing assets and their vulnerabilities, so important to the…

A: Risk management: Risk management is the process of recognizing risk, assessing its relative scale…

Q: what are Audit Assumption

A: Answer: The audit that is conducted is such that there are assumptions made.

Q: Define a risk event.

A: Risk Event:  When an event can cause losses to the company's stakeholders and investors due to…

Q: Explain the concept of risk management

A: Introduction: Risk can be characterized in terms of the uncertainty of future consequences resulting…

Q: Define security instrument (or trust receipt)

A: A trust receipt is a notification of the release of goods from a bank to a purchaser, with the bank…

Q: Distinguish between exposure and risk.

A:

Q: Assurance

A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…

Q: . Auditor

A: Management should address written representation about a firm's annual Audit to the

Q: Explain audited value.

A: The term review ordinarily alludes to a business enterprise report review. A financial review could…

Q: recommended actions on how to address: Execution risk Strategic risk Reputation risk Process…

A: Financial risk refers to a variety of risks related with funding, such as financial transactions…

Q: Define assurance and assurance services.

A: Assurance basically is a type of audit with the main intention of improving the transparency and…