Probe | On the work program, should we input our own "Estimated audit risk remaining”?

Published: 19/08/2016

On the work program, should we input our own "Estimated audit risk remaining”?

Answer:

If you double click on the box, Probe will give you the estimated audit risk remaining from the calculation it makes. You can override the calculation. The auditor uses his professional judgement to determine if he is satisfied that he has obtained sufficient appropriate audit evidence covering that line item and that assertion. The estimated audit risk remaining calculation from Probe, takes into account the Risk of Material Misstatement less the Assurance obtained per the Assertion.

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