Modelling audit risk

L.C.L. Skerratt and A. Woodhead

The British Accounting Review, 1992, vol. 24, issue 2, 119-137

Abstract: A number of discrepancies have been found between the multiplicative joint risk model and the judgments of auditors in practice. The importance of this finding depends largely on the realism of the benchmark risk model used. Therefore, the objective of this paper is to extend the joint risk model to reflect more accurately the choices and circumstances faced by auditors. In addition, identifying the components of audit risk in a systematic manner is also important because it may be able to enhance audit decision processes.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:eee:bracre:v:24:y:1992:i:2:p:119-137

DOI: 10.1016/S0890-8389(05)80003-4

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