THE RISK APPROACH: AN ALTERNATIVE TO THE CLASSIC AUDIT APPROACH

Anca Daniela ?enchea, Anda Necula, Alice Mariana Preda and Andreea Savu
Additional contact information
Anca Daniela ?enchea: Universitatea Valahia din Târgovi?te
Anda Necula: Universitatea Valahia din Târgovi?te
Alice Mariana Preda: Universitatea Valahia din Târgovi?te
Andreea Savu: Universitatea Valahia din Târgovi?te

Management Strategies Journal, 2022, vol. 57, issue 3, 45-51

Abstract: This study will focus on addressing risk. The purpose of this article is to highlight the importance of the risk approach in the pursuit of effectiveness and efficiency in audit work. To demonstrate this, we will first show the limitations of the classical audit approach, then illustrate the importance of the risk-based approach, and finally present the approach to auditing according to this approach. A risk-based approach also improves an organization's decision-making process, regardless of its industry focus. Therefore, a risk-based approach consists of identifying, assessing, and understanding risks, as well as the subsequent application of measures proportionate to these risks to ensure their effective mitigation.

Keywords: auditors; risks; audit; company (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.strategiimanageriale.ro/papers/220306.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:57:y:2022:i:3:p:45-51

Access Statistics for this article

More articles in Management Strategies Journal from Constantin Brancoveanu University
Bibliographic data for series maintained by Dan MICUDA ().