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RISK RESPONSE - Coggle Diagram

- - - - understand compoent auditor (para 20)
        
        Ethical
        
        Competent
        
        Regulatory enironenment
        
        Involve work CA
        
        Communication para 40
    - - para 41 ( CA to GA)
  - - - Discuss planned work + activities
      - Read reports IA
      - Perform assess quality + sufficient conclusion reach
      - IA work
        
        Organisational status
        
        Competence
        
        Romm
      - Respond accordingly to judgement
  - - - Reasonable expert finds
      - Reasonability assumption + methodology
      - Competence , capability + Objectives
      - Reasonability source data used
  - - - Type 1 - Report ,describe + deign
      - Type 2 - Report, describe , design + Operating effectiveness
    - - Quality - appropriate
      - Quantity - Sufficient
  - - - Mng judgement
      - Sensivity to change assumption
      - Existence of recognised measurement technique
      - Length forecast period of relevent data
      - Availability of realisable data sources
      - Susceptibility to bias
      - Actual or Expected magnitude of estimates
  - - - read f/s , c/b correct, auditors working papers
    - - Additional procedure , evaluate previous audit opinion , policy applied
  - - - Understand control (routine or not)
      - Respond to ROmm
      - Undersatnd related parties
      - Written representation
  - - - Control tested
      - Pervasive controls
      - Serious deivaitio0n + potential effect uncorrected errors
      - Effect it has on other system
      - Non compliance control , told mng immediately
      - Existence controls good enough to gather audit evidence
    - - Effect on the system
      - Compensating controls
      - Operating effectiveness (design + implementation )
      - Sample suffcient
      - Errors or frauds
      - Once off or recurring
- - - - Human (activity)
      - System (control)
- - - - Fraud
      - Money
      - trading
      - date protection
      - environment protection
  - - - Report matter next lvl of authority
        
        Potential implication identified audit report + include audit of the group if relevent
        
        Evaluate implementation of non compliance in audit report
        
        Document finding+ discuss appropriate level of mngt
        
        Obtain understanding nature of act + circumstances
- - - - When
      - Amt
  - - - SSS AAAA EAT CRAP
      - Verb is important and source document
    - - Prior vs Current
      - Budget vs Actual
      - Ratio
      - y/y anaylsis
- - - - Test data
        
        Invalid
        
        Process + Exception Report
        
        Not Process
        
        Valid
        
        Process