Altium. Limited Audit. Risk assessment for the new clie

Altium Limited Audit
RISK ASSESSMENT FOR THE NEW CLIENT

Auditing standards
 Auditing and Assurance Standards Board in Australia have issued
applicable auditing standards to be followed. Following auditing
standards must be followed in risk assessment in an audit of financial
statements.
 ASA 300.
 ASA 315.
 ASA 330.

Risk assessment
Steps to be followed:
I. Audit planning.
II. Inheritance risk assessment.
III. Detection risk assessment.
IV. Control risk assessment.
V. Financial statements review.
VI. Analytical review (Glover, 2015).