Speaking plainly about risk assessment -- Part I

The first series of reports will take a deep dive into the risk assessment process. While these reports may not present anything new, our hope is that they will serve to remind CPEA members of some of the more common pitfalls and how those pitfalls can be avoided or corrected. While reading about risk assessment may seem boring, remember, an inappropriate risk assessment will most likely lead to a substandard audit. A substandard audit will most likely lead to trouble.