The role of internal control assessment in risk assessment in financial statement audits
Published: July 29, 2026
Abstract
This study examines the role of internal control evaluation in assessing audit risk, employing a combination of theoretical analysis and case study methods. The findings reveal a positive relationship between the effectiveness of internal control systems and the reliability of financial information. Enterprises with independent supervisory boards tend to establish stronger internal controls and exhibit lower levels of control risk. The results highlight the importance of comprehensive internal control assessments as a critical component of audit risk evaluation, enabling auditors to make informed decisions about whether to expand or reduce the scope of substantive testing.
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