Auditors Gain Clarity on Risk Assessment, Enhancing Financial Transparency
The article discusses the challenges in defining auditor risk, a crucial concept in auditing. Current regulations do not provide a clear definition of auditor risk, making it difficult for auditors to assess and address this risk effectively. The size of auditor risk is widely used in audit practice for planning and forming opinions on financial statements. The author suggests a new definition of auditor risk to better capture its essence in auditing.