Audit Risk Model Simulation

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🎧 Listen to more in-depth episodes on Spotify! Interactive Simulation: Audit Risk Assessment and Response

Audit Risk Model Simulation

A step-by-step guide to identifying, assessing, and responding to the risk of material misstatement.

1
Identify Risks
2
Assess Risks
3
Respond to Risks

Step 1: Identify Risks

Risks can affect the entire financial statement or specific assertions. Drag each risk into the correct category to proceed.

Risk Pool

Lack of qualified accounting staff.
Inventory is susceptible to obsolescence.
Management override of controls is common.
Complex revenue recognition for a specific contract.

Financial Statement Level Risks

Assertion Level Risks

Financial Controller · 해외법인 재무·회계 12년+ · USCPA 시험 합격(2016)

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