The basic workings of the Audit Risk Model

Understand the basics of the Audit Risk Model in this video. Keep an eye out for future videos on assessing Inherent Risk and Control Risk.
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[@raymondokello1319]

Dr Amanda, you're heaven sent in auditing. Thank you very much for the great work of sharing knowledge.

[@jessalisauskas7069]

3 years ago I was writing, thanking you for helping me get through my University Audit course. Today, you are saving me (again) with my upcoming CA Exam!!!! Amanda, you are such an incredible and inspiring woman and teacher. Thank you for sharing your knowledge with us all, particularly in such an engaging manner. If it was not for you, I do not think I would be here today. You really are making a difference in this world. You are an incredible teacher, and you really know how to make the standards come to life. Wish there was something I could do to repay my gratitude! For now all I can say is, "thank you, thank you, thank you, a million times over."

[@amandalovestoaudit]

No worries - thanks for your feedback!

[@user-eq3ou6dt2y]

This is the first time i have ever understood this! Thank u so much

[@walaahanafy8844]

From Egypt thanks thanks thousand million times for your supporting to us

[@banjohandan7024]

I enjoyed almost all your prevention,thanks so much Dr ,you will be a dependable instructor when I enrolled for my PhD.

[@MJBaro]

Amanda you ARE A Hero to be honest your videos help me alot in improving my understanding of the auditing and its process. RESPECT

[@JaideepKhanna]

One word for you Amanda..LEGEND... Thank you very much for your clear and precise understanding of various concepts. I love the way you explain things to dummies like us. Best wishes and regards.

[@tumpi01]

I was looking for a simple explanation of the fundamentals of this concept and this was a tremendous help. Thank you!!

[@amandalovestoaudit]

You’re welcome!

[@mjvovola2557]

Massive thanks Amanda 🙌 now I'm better understanding the concepts of audit planning.

[@abdulwahabalhaji8662]

Thanks so much for taking the time to make this video! It is incredibly helpful.

[@zainabaijaz8708]

Great Ma'am! Really love your teaching style. Your videos has regenerated my interest in my uni auditing course, which I was planning to drop initially because of my struggles to comprehend the course. But now I believe I could ace it easily. Thanks for such depth and easy to fathom explaination of the topics.

[@amandalovestoaudit]

Hi Zainab - that is so great to hear - best of luck!

[@mgitiaz]

Thanks... You delivered a complex subject with easy... Your method works and makes it easy to take-in I wish to get more of your lectures

[@eagleeye7961]

Amenda Loves to Audit and I Love the teaching Style of Amenda. Amazing So Thanks

[@amandalovestoaudit]

+Muhammad Shafiq You're welcome!

[@hevymetalbeauty]

Thank you very much for this explanation it is really helping me in studying for my audit exam.

[@amandalovestoaudit]

+hevymetalbeauty you're welcome!

[@VamsiGaraga]

Hi Amanda ! You made audit so simple and understandable with your work... your diagrams are excellent... thank you for all...and looking for more from you

[@yuniorgalardy2781]

Thank you for posting this video!!! Very helpful in understanding my Audit class.

[@wansofia7371]

thank you soooo much...i love this video...hope you can keep up with this effort to make us more understanding of audit in the future. Thank you from Malaysia =)

[@TheJohnLE]

Thank you so much I understand this AR model in 7mins then the whole 11 weeks of lecturer. Please come to Melbourne to teach us, you are amazing, I loved how you used examples, diagrams, drawings rather than what most lecturer do they just copy and paste words from the textbook then paste on their slides. Again thank you:)

[@therocket88]

+TheJohnLE oh my god try deakin's lecture, so shit

[@aplusaccountingbylestermar6854]

what is deakin lecture's name

[@perseverancemaraire3651]

Then I have to spend the whole year in the lecture room for something that can be taught for only less than 8 minutes.

[@shohjahonkarimov2981]

Great explanation👍👏

[@vmrao1961]

Very Helpful in clearing basics and making them strong

[@walidsabra5257]

Thanks so much , you have excellent way to push and feed us by knowledge and information ,

[@InfoAudit]

thanks a lot Dr Amanda ...

[@amandalovestoaudit]

Always welcome 😊

[@valienelaurie5177]

My brain just got snatched....I had to listen to DR twice to try to understand it....

[@garimaale1540]

I just love your videos. I am so thankful that you stopped using marker pens in recent videos. It's squeaky sound gives me anxiety yet I try my best to focus.

[@anilasarfraz8195]

Love from Pakistan.. Thanks. It helped a lot 😊

[@beingsimple3890]

Anila Sarfraz *Love from India. It helped me in my CA final a lot*

[@RishabhSharma-lq1id]

Anila Sarfraz What up girl?

[@adibahzamani7925]

I remembered a decade ago or so I watched this video but I’d just listened but don’t understand that wholly and cannot visualised it on my part. As I now have 7 years working experience and I understood.

[@fwslao7072]

Many thanks for shearing you knowledge. Its very useful and very clear presentation.

[@secondsunset4951]

Thanks so much Amanda.. You make it clear!!!

[@amandalovestoaudit]

Dina Dina you're welcome :)

[@billa427]

Really Very nice.thanks U Helped me for my Exam Knowledge

[@tomlee1207]

Hey Amanda, i have a question regarding to my Assignment as following: "the company has a high-risk business environment (0.83), poor to none existent internal controls (0.95), and the detection of problems during any reasonable level of audit is very poor (0.75)". Do you mind in helping me to estimate and evaluate this audit engagement. Thank you so much.

[@aimanalhashedi3544]

i really love the way make Audit easy thank you

[@katemcrostie2495]

Very clear now thanks

[@hussainakhtar1094]

very nice explanation

[@sunilnagpal4921]

Thank you...you are a great teacher !! God bless you.

[@bibighousiataj6631]

Thanks Amanda, understood very well.....

[@praneetaparadkar]

Amanda, what tool are you using to capture and then edit your videos? I especially like the annotating that you have used. Thanks, Praneeta

[@roshandhakal6501]

Thankyou amanda

[@bibobnoor1030]

Great video

[@amandalovestoaudit]

Thank you!

[@VietNguyen-uv7fg]

Amanda, I went back to the definitions in the text book and the internet, and noticed something: - Audit risk is the risk that the financial statements are materially incorrect. - While acceptable audit risk is how willing auditor is to accept that FS may be materially misstated. So "audit risk" is used as acceptable audit risk? I am confused with this. Could u verify this for me?

[@amandalovestoaudit]

Hi Viet - the term Acceptable Audit Risk and Audit Risk are interchangeable 😊

[@VietNguyen-uv7fg]

@@amandalovestoaudit Thank you Amada

[@Sinokisme]

Hi everyone nice video. Can you confirm that a low detection risk means more audit works for the auditor? And that a high non-detection risk means less audit works for the auditor? Thank you, have a nice day.

[@melissarobbins9873]

thanks Amanda!

[@domdelizia3793]

Thanks for all your videos, a few of us from UOW have been using your videos to gain a clearer understanding of our subject. There is one thing I'm still confused by, if detection risk is high then evidence needed is low - but if you know there is a high chance of not finding misstatements then wouldn't you want to collect more evidence to lower the detection risk?

[@domdelizia3793]

Ive worked it out - think of it this way, If PDR is low, then you need a high amount of evidence to ACHIEVE a low chance of not detecting misstatements. Otherwise just directly link evidence to IR and CR

[@domdelizia3793]

PDR depends on AAR IR and CR from the model its inversely related to IR and CR and also inversely related to evidence required

[@ayumur]

Wow from Canada!!!

[@narayanpaudel6157]

tq so much ,....its very helpful

[@himashikadesilva7361]

Thank you sooo much

[@sakthiganesh6012]

thank you

[@teleman1280]

You are a legend thanks

[@leoi481]

GOOD JOB!! A+

[@chetanasin9150]

Thanks

[@wsapila]

thank you good teacher

[@HayhatMinaZila]

Nick says he loves you thanks

[@nikkaxyzaobenario7565]

Thank u so muchiieee

[@amandalovestoaudit]

You’re welcome!

[@nikkaxyzaobenario7565]

@@amandalovestoaudit I'm really glad Ma'am that I found your KZbin channel. You have elaborated very well the topics that I find it hard to grasp. Sending love all the way from the Philippines

[@MegaMonia88]

u're better than my lecturer who has a PhD but cannot deliver information

[@zubairtari]

thank you Amanda. Allah bless you.

[@smsoma1991]

thanks a lot it is so benefit :)

[@Rdzy394]

AMANDA I LOVE YOU

[@amandalovestoaudit]

Thank you Ramzy! Be sure to check out my free ultimate audit study guide - amandalovestoaudit.com/learning-resources/audit-study-guide/

[@jbermud2]

amazing

[@caprelomakeover1591]

The sound of the marker is irritating 😞… can’t concentrate on the lecture

[@manishawadhwa2705]

WHO IS AUDIT PARTNER HERE ?

[@DanDan-pf6of]

Where my UWI gangs at

[@banjohandan7024]

Sorry your presention

[@raymondokello1319]

Dr Amanda, you're heaven sent in auditing. Thank you very much for the great work of sharing knowledge.

[@amandalovestoaudit]

Absolutely my pleasure 😊