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The benefits of a ‘decomposed’ approach to group audit planning

by Ken Tysiac | Aug 10, 2019   ()

New research performed with the help of the AICPA’s Assurance Research Advisory Group has provided new insights on ways to improve quality in group audits. The research shows that when key planning decisions are based on a “decomposed” risk assessment approach rather than a “holistic” approach, audit quality is improved because the auditors plan the engagements with a greater focus on qualitative risk, which is typically underweighted by auditors.
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Source: Journal of Accountancy

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