Which of the following is a benefit of a risk based approach to audit - ProProfs Discuss
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Which of the following is a benefit of a risk-based approach to audit planning? Audit:

This question is part of CISA - Mock Test - Domain 1 (100 Questions)
Asked by Hemangdoshi, Last updated: Oct 22, 2020

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hemangdoshi99

hemangdoshi

hemangdoshi99
Hemangdoshi

Answered Aug 23, 2018

D. resources are allocated to the areas of highest concern.

The risk-based approach is designed to ensure audit time is spent on the areas of highest risk. The development of an audit schedule is not addressed by a risk-based approach. Audit schedules may be prepared months in advance using various scheduling methods. A risk approach does not have a direct correlation to the audit staff meeting time budgets on a particular audit, nor does it necessarily mean a wider variety of audits will be performed in a given year.
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