Sentence examples for risk of misstatement from inspiring English sources

This study examines whether auditors from different countries come to different conclusions when they perform analytical procedures to assess the risk of misstatement in accounts.

Although auditors from all three countries came to similar conclusions about the overall risk of misstatement, they attributed risk differently across the individual financial statement accounts they evaluated.

Third, all questionnaires applied were self-reports, which could be related to a potential risk of misstatement or could involve response biases.

Last month the accounting board followed up with a message to auditors warning that there was a "risk of material misstatement" in financial statements, in part because of litigation over mortgage securitizations.

In most — 37 of the 60 audits reviewed in 2012 — the auditors failed to do enough work to assess the "risk of material misstatement due to fraud," the board reported.

The focus is on hypotheses for judgments of process-specific business risk and the risk of material misstatement (RMM) of revenue.

Auditing standards direct auditors to consider business risk and other risk factors when they evaluate the overall risk of material misstatement during the planning phase of an audit.

Only auditors trained to use SSA who analyzed information provided in an SSA format effectively integrated business risk assessments with their assessment of the risk of material misstatement.

However, our second finding is that an in-depth strategic analysis completed prior to assessing a client's business risk or risk of material misstatement allows an auditor to incorporate more information from performance measures in risk assessments regardless of whether the performance measures are benchmarked.

"In 13 of the 23 audits," the board reported, auditors "did not perform sufficient procedures to identify, assess and respond to the risks of material misstatement of the financial statements due to fraud".

Mr. Pawlenty accused Mrs. Bachmann of having "a record of misstatements" and "making false statements".