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Business and Auditing Risk Assessment During Shipping Company Costs Audit


  • Yuliya Ostapenko

    () (Kyiv National Economic University named after Vadym Hetman)


Risk as an economic category and business activity element is inherent to any information system including the accounting system. That is why during the audit of costs as one of the most significant aspects of company business activity, the auditor must pay close attention to determining and assessment of risk significance common for reporting system. The Article covers the risks which may occur during audit of shipping companies' costs and analysis of approaches to their significance rate assessment. Risk classification for shipping companies business has been proposed, places and reasons for their occurrence have been defined. Main factors affecting the risks volume have been highlighted. Audit risks general structure has been developed for audit of shipping company activity costs, its main components and relationship among them have been outlined. An attempt has been made to define principle directions of auditor's actions during audit risk assessment in water transport companies.

Suggested Citation

  • Yuliya Ostapenko, 2013. "Business and Auditing Risk Assessment During Shipping Company Costs Audit," Accounting and Finance, Institute of Accounting and Finance, issue 3, pages 99-106, September.
  • Handle: RePEc:iaf:journl:y:2013:i:3:p:99-106

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    References listed on IDEAS

    1. Andrea Melis, 2007. "Financial Statements and Positive Accounting Theory: The Early Contribution of Aldo Amaduzzi," Accounting History Review, Taylor & Francis Journals, vol. 17(1), pages 53-62.
    2. Mattessich, Richard, 2006. "Foundational research in accounting: professional memoirs and beyond," De Computis "Revista Española de Historia de la Contabilidad". De Computis "Spanish Journal of Accounting History"., Asociación Española de Contabilidad y Administración de Empresas (AECA). Spanish Accounting and Business Administration Association., issue 5, pages 277-461, December.
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    More about this item


    risk; uncertainty; auditor's risk; risk assessment; cost audit; water transport companies;

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing


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