Risk assessment by the audited party

21 January 2024, 19:09

4. Risk assessment by the audited entity is a process of identifying and, where possible, eliminating risks related to business activities, as well as their potential consequences. For the purposes of financial (accounting) reporting, it is important how the management of the audited entity identifies risks relating to financial (accounting) reporting in the risk assessment process, determines their significance, assesses the likelihood of their occurrence and makes decisions regarding how to manage them.

For example, the risk assessment process by the audited entity may be aimed at determining how the possibility of not recording business transactions in accounting is prevented or how significant estimated values for financial (accounting) reporting are identified and analyzed.

Source: Government Decree of the Russian Federation dated 23.09.2002 No. 696 (as amended on 22.12.2011) "On Approval of Federal Rules (Standards) of Audit Activities"

Download

PDF ↓

Морфология

Род

Понятие «оценка рисков аудируемым лицом» женского рода.

Склонение и число

Падеж	Единственное число	Множественное число
Р	оценки рисков аудируемым лицом	оценок рисков аудируемым лицом
Д	оценке рисков аудируемым лицом	оценкам рисков аудируемым лицом
В	оценку рисков аудируемым лицом	оценки рисков аудируемым лицом
Т	оценкой рисков аудируемым лицом	оценками рисков аудируемым лицом
П	оценке рисков аудируемым лицом	оценках рисков аудируемым лицом