Оценка на бизнес рисковете в организациите при независимия финансов одит
Assessment of Business Risks in Organizations During the Independent Financial Audit

Author(s): Silviya Kostova
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: audit risk; business valuation; quantitative models; control environment; International Standards on Auditing
Summary/Abstract: In today’s economic environment, business organizations are increasingly exposed to risks that are growing in both frequency and complexity, including regulatory, technological, environmental, and strategic risks. The present study analyzes the interaction between risks inherent to business processes, the management responses aimed at mitigating them, and the procedures applied by the auditor. The primary focus is on how the independent financial auditor identifies and assesses business risks, evaluates the adequacy of management’s response, and structures the audit approach to provide reasonable assurance. The study proposes an interpretative approach to audit risk assessment through the application of quantitative models. The models support the formation of professional judgment regarding the probability, magnitude, and consequences of the identified risks, to enhance objectivity and consistency in the evaluation of management actions, particularly in areas with high subjectivity such as sustainability, IT controls, and business strategy.

• Details
• Contents