Identify and Define the Components of the Audit Risk Model

question 33

Essay

Identify and define the components of the audit risk model.

---

Definitions:

Internal Referencing Strategy

A method of assessment or evaluation that compares current performance with past performances within the same entity.

Measured Outcomes

Refers to the specific, quantifiable results obtained from implementing strategies, programs, or interventions.

Organizational Outcomes

The results or impacts of organizational activities, including productivity, employee retention, profitability, and customer satisfaction.

Return on Expectations

Return on Expectations measures the qualitative outcomes of a project or investment based on predefined objectives and stakeholders' expectations.