Assessing Materiality and Risk Simulation

Assessing Materiality and Risk Simulation

Name

ACC/490

Date

Instructor Name

 

Assessing Materiality and Risk Simulation

The Assessing Materiality and Risk simulation identifies risks and important components of the auditing process. Some accounts must be audited 100%, whereas some are sampled. Other accounts require a combination of details and components to achieve precise results. Three risks that make up audit risk are interrelated.