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The Risks In The Audit Activity


  • Maria Moraru

    () (West University of Timisoara, Romania)

  • Franca Dumitru

    () (“Tibiscus” University of Timisoara, Romania)


Following the bankruptcy of large firms (Enron, Parmalat, WorldCom) due to incompetence and failure of procedures is necessary to improve the audit work, paying special attention to risk management and taking into account the recommendations of the auditors. This paper presents a detailed analysis of risks that may arise in financial audit of how risk assessment and the factors involved in their estimation.

Suggested Citation

  • Maria Moraru & Franca Dumitru, 2011. "The Risks In The Audit Activity," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 11(3), pages 187-194.
  • Handle: RePEc:pet:annals:v:11:y:2011:i:3:p:187-194

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    References listed on IDEAS

    1. Seema Jayachandran & Michael Kremer, 2006. "Odious Debt," American Economic Review, American Economic Association, vol. 96(1), pages 82-92, March.
    2. David H. Bearce & Sawa Omori, 2005. "How Do Commercial Institutions Promote Peace?," Journal of Peace Research, Peace Research Institute Oslo, vol. 42(6), pages 659-678, November.
    3. Georg Sørensen, 1985. "Peace and Development: Looking for the Right Track," Journal of Peace Research, Peace Research Institute Oslo, vol. 22(1), pages 69-77, March.
    4. Leipziger, Danny M., 1983. "Lending versus giving: The economics of foreign assistance," World Development, Elsevier, vol. 11(4), pages 329-335, April.
    5. Cordeiro, Jose Luis, 2008. "Constitutions around the world : A View from Latin America," IDE Discussion Papers 164, Institute of Developing Economies, Japan External Trade Organization(JETRO).
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    Cited by:

    1. Alina Voiculescu & Sorina Simona Bumbescu, 2014. "Explaining The Audit Risk And Its Components: A Comparative Case-Study Based On Audit Reports," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 138-148, August.

    More about this item


    auditor acceptable audit risk; inherent risk; control risk; detection risk;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other


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