Bringing the Facts Into Focus: Four Audit Myths
Identifying, assessing and responding to risks of material misstatement are at the core of every audit. However, an AICPA Peer Review Program study found that more than one in 10 firms are not properly assessing risk or linking their assessments to their audit procedures. Further, there is a myth within the audit industry that there is no solution available today to address all areas of audit risk assessment.
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