IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Corporate Responsibility and Control Risk

Listed author(s):
  • Grosu Maria


    („Alexandru Ioan Cuza” University of Iasi)

Registered author(s):

    Control risk (CR) refers to the likelihood that material misstatement of the financial statements can not be prevented or detected and corrected by the entity's internal control. This risk is assessed by the auditor after obtaining an understanding of the entity's control environment risk assessment quizzes (TER) and after obtaining evidence of operating effectiveness of internal controls through control tests (TC). Typically, the auditor establishes a high level of control risk, even 100% as the confidence in the SCI is low. However, there are exceptions, such as identification by the auditor's internal controls well designed and operating effectively, or when the auditor plans to conduct tests to support the extended control that risk assessment at a lower level. However, one thing is certain: the RC is higher; the volume of evidence must be higher to support an audit risk as small. In this study we demonstrate that the correct estimation of risk control as an appropriate methodology will help to streamline the audit process and reduce its costs.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.

    Volume (Year): XI (2011)
    Issue (Month): 1 (May)
    Pages: 878-883

    in new window

    Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:878-883
    Contact details of provider: Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:878-883. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gheorghiu Gabriela)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.