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Qualitative, Semi-Quantitative And, Quantitative Methods For Risk Assessment: Case Of The Financial Audit

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  • Laura-Diana Radu

    (Business Administration Department, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University)

Abstract

Risk assessment is a critical step in achieving and defining the audit. Under these conditions, the concerns for developing the best methods in this field are varied. Both at practical and theoretical lev-el, in auditing, but also in other activities, are numerous qualitative, semi-quantitative and quantitative methods which try to estimate individual components of risk for a result to better reflect the reality. However, in our days, there is now a universally accepted method, able to predict and as-sess all events and actions carry risks. In this paper are presented, with examples, the three main categories of risk evaluation methods (quantitative and semi-quantitative and qualitative) and how they can be applied in auditing, trying to identify the method that best meets the actual requirements of a specific mission.

Suggested Citation

  • Laura-Diana Radu, 2009. "Qualitative, Semi-Quantitative And, Quantitative Methods For Risk Assessment: Case Of The Financial Audit," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 56, pages 643-657, November.
    • Handle: RePEc:aic:journl:y:2009:v:56:p:643-657
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. A New Era of Risk Management?
      by Bill Storage in The Multidisciplinarian on 2014-02-10 12:07:52

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    Cited by:

    1. Abba, Z.Y.I. & Balta-Ozkan, N. & Hart, P., 2022. "A holistic risk management framework for renewable energy investments," Renewable and Sustainable Energy Reviews, Elsevier, vol. 160(C).

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