Traditional risk-oriented audit [10]

Risk-oriented audit of public fiduciary responsibility

Audit objectives

To confirm the fairness of the financial statements and to reduce the residual risk to an acceptable level

Reflecting the results of the fulfillment of the fiduciary duties of the Public Welfare Foundation

Risk factors

Risk of material misstatement

Risk of material misstatement, and deviating from fiduciary responsibility

Audit risk model

Audit Risk = Substantial Misjudgment Risk × Check Risk

Audit risk = (the risk of material misstatement + the risk of deviating from the fiduciary duty to fulfill) × check risk

Audit object and focus

Focusing on risk management, control and governance processes

Mainly concern about the management system, business processes, project performance and other organizational internal risk factors

Audit procedures

Integrated use of inspection, observation, inquiry, external confirmations, recalculation, re-execution and analysis

A variety of ways to obtain audit evidence from outside the audited foundation, such as observations, external confirmations, field research, etc.

Audit path [11]


Pay more attention to pre-audit and intermediate audit