Analytical Approaches to Audit Risk: A Survey and Analysis.

This paper surveys the growing body of auditing literature which advocates the use of models in the measurement and control of audit risk. This paper critically examines a representative audit risk model and identifies several flaws in the model which limit its applicability in practice. In order to assist auditors in avoiding problems which may arise from using the audit risk model, the paper proposes a set of rules for its application in practice.