Approche par les risques : les auditeurs peuvent-ils innover ?

The main purpose of this research is to examine the risk assessment approach used by audit firms in France. Over the last few years, most major audit firms have been reporting that their risk review now focuses on the business risks and the strategy of the client, rather than just internal control. This study describes the conditions under which such risk reviews are implemented, and their limitations. Interviews with partners on the major audit firms in France (both Fat Four and local firms) indicate that such approaches are contingent on the environment and on the structure of the audit client. The study also demonstrates that audit firms view this approach as a means of legitimatizing and reinforcing the role of the auditor. However, despite the willingness on the part of audit firms to implement this approach, they are hampered by inherent limitations. First, the hierarchical structure of audit firms is not innovation-friendly. Furthermore, current adverse business conditions lead to a difficult choice for the auditors between a conviction-based and a standards-based audit. Last, the natural aversion of auditors to constantly changing forecasts that come with business risks.