A Proposal Framework for Audit Business Risk and Its Impact on the Role of the Audit Risk Model: An Experimental Study

Abstract

The study addresses the Business risk of audit and the factors associated with it,  testing the impact of each factor on the planning decisions for the audit and the model audit risk. In order to achieve this purpose, it examine and analyzes the types of business risk of audit and elements of audit risk model and their relationship with the auditing planning decisions. Through a questionnaire, the study tests two samples: one of audit professors and the other of institutions in the business environment of Egypt. The objective was to find out the relative importance of the audit Business risk and the extent of the impact of different audit planning decisions and types of audit risk, as well as to examine the audit risk model’s need for amendment in order to realize audit planning goals.