Inherent and Control Risk Assessments

The first edition of Khorwatt''s Inherent and control
risk assessments in the field of external auditing
has come to emphasize external auditor identification
and assessment of risk factors associated with the
components of audit risk that affecting clients. The
importance of this book derives from the significant
relationship between the assessed level of inherent
risk and control risk and the extent of efficiency
and effectiveness of the audit. In this regard, any
overestimation of the levels of inherent and control
risk would lead to conducting more audit work than
necessary and then the scarce audit resources will be
consumed unnecessarily. On the other hand, any
underestimation of the levels of inherent and control
risk will result in restricting the effectiveness of
the audit. This book, therefore, provides a
comprehensive theoretical foundation and practical
implications for the assessments of inherent and
control risk factors.

Autorentext
Esamaddin Khorwatt, PhD: Studied External auditing at ManchesterMetropolitan University /UK. Head of accounting department atthe Accountancy Faculty/Al-Jabal Al-Gharbi University, Libya

Klappentext
The first edition of Khorwatt's Inherent and controlrisk assessments in the field of external auditinghas come to emphasize external auditor identificationand assessment of risk factors associated with thecomponents of audit risk that affecting clients. Theimportance of this book derives from the significantrelationship between the assessed level of inherentrisk and control risk and the extent of efficiencyand effectiveness of the audit. In this regard, anyoverestimation of the levels of inherent and controlrisk would lead to conducting more audit work thannecessary and then the scarce audit resources will beconsumed unnecessarily. On the other hand, anyunderestimation of the levels of inherent and controlrisk will result in restricting the effectiveness ofthe audit. This book, therefore, provides acomprehensive theoretical foundation and practicalimplications for the assessments of inherent andcontrol risk factors.