Assignment:
How would you explain the audit risk model to the decision makers at AV Imports and Exports? Research risk assessment using your textbook and the Argosy University online library resources and prepare a response. In your response, include the following:
- A general summary to present your understanding of the audit risk model.
- The types of risk that must be assessed and the reasons.
- An example from your personal experience or an article from a scholarly source to explain why the audit risk concept is important.