Kontrolės rizikos kaip audito rizikos elemento vertinimo modelis

Recent collapses of audited companies have shown that audit quality issue is relevant and should be further developed. The main determinant of audit quality - this is audit risk which has to be assessed by auditor each time during audit. In order to assess the audit risk inherent risk element should be eliminated, and reduction of detection risk leads to increase of auditors work volume, which leads to a longer and / or more expensive audits, therefore control risk is the one which development significant qualitative improvement in the audit risk assessment without affecting audit costs. Purpose of the research – to investigate the state of control risk assessment methods and based on existing theory and practice develop a model for control risk assessment. While creating control risk assessment model a study identifying key difficulties for control risk assessment in practice was carried out. Based on the results of this study and the global scientific practices, a control risk assessment model was created. The model has been tested on the basis of audits conducted by audit firms, which employ one auditor. It was found that a structured assessment of control risk provides reliable audit reporting and enables further identification of the main audit procedures scope and direction