Cloud 9 Assignment 1: the difference between Business and Inherent Risks

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Identifying the difference between business and inherent risks; Cloud 9 Audit Case Study; Wiley Publishing

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- Is my understanding right? If not please clarify. You can give some specific examples, it'd be great
Thanks for your videos, it does help a lot

nmhku
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I do really thank you so much, i am sure you help me by your excelent way of explaining ideas...

abdulazizhazaa
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Hi Amanda, a few questions on this:
- the inherent risk of business and the audit inherent risk in the audit risk model, are they the same? (IR definition in MAAS book p397: possibility that material error could occur assuming there are no related control. <-- I dont quite get the intuitive behind it)
- from ur video, my understanding is:
signif.risk = buss.risk + inherent risk;
inherent risks comprise of inherent risk of the entity + buss.risk of the entity that has FS effect

nmhku
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Amanda could you plz give some examples of risks which are business risks but are not inherent risks. thanks

mkhan
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Hi, this video was helpful. I was wondering did you create videos for the other assignments?

yujingtao