Audit Term Paper
MZUMBE UNIVERSITY
SCHOOL OF BUSINESS DEPARTMENT OF ACCOUNTING AND FINANCE
PROGRAMME: MSC. ACCOUNTING AND FINANCE COURSE: AUDITING AND ASSURANCE SERVICES CODE: ACC5221 NATURE: TERM PAPER STUDENT NAME: HAMAD OTHMAN RUBEA REG NO: MSC/AF/MOR/010/T.12 LECTURER: MR. KASHESHI TASK: Discuss the business risk that may face any organization and the Auditors concern about these risks.
DATE OF SUBMISSION AND PRESENTATION: 17th DEC 2012
TABLE OF CONTENTS Pages 1.0 NTRODUCTION ......................................................................................................................1 2.0 BUSINESS RISK ......................................................................................................................1 2.1 MEANING AND DEFINITION OF BUSINESS RISK: ......................................................... 1 2.1.1 INTERNAL FACTORS/ RISK ..................................................................................... 1 A. B. C. Human factors............................................................................................................... 2 Physical factors ............................................................................................................. 3 Technological factors ................................................................................................... 3
2.1.2 EXTERNAL RISKS: ..................................................................................................... 3 A. B. C. Economic factors .......................................................................................................... 4 Natural factors: ............................................................................................................. 5 Political factors: ............................................................................................................ 5
3.0 AUDITORS CONCERN ABOUT BISINESS RISK ................................................................6 3.1 REASONS FOR
SCHOOL OF BUSINESS DEPARTMENT OF ACCOUNTING AND FINANCE
PROGRAMME: MSC. ACCOUNTING AND FINANCE COURSE: AUDITING AND ASSURANCE SERVICES CODE: ACC5221 NATURE: TERM PAPER STUDENT NAME: HAMAD OTHMAN RUBEA REG NO: MSC/AF/MOR/010/T.12 LECTURER: MR. KASHESHI TASK: Discuss the business risk that may face any organization and the Auditors concern about these risks.
DATE OF SUBMISSION AND PRESENTATION: 17th DEC 2012
TABLE OF CONTENTS Pages 1.0 NTRODUCTION ......................................................................................................................1 2.0 BUSINESS RISK ......................................................................................................................1 2.1 MEANING AND DEFINITION OF BUSINESS RISK: ......................................................... 1 2.1.1 INTERNAL FACTORS/ RISK ..................................................................................... 1 A. B. C. Human factors............................................................................................................... 2 Physical factors ............................................................................................................. 3 Technological factors ................................................................................................... 3
2.1.2 EXTERNAL RISKS: ..................................................................................................... 3 A. B. C. Economic factors .......................................................................................................... 4 Natural factors: ............................................................................................................. 5 Political factors: ............................................................................................................ 5
3.0 AUDITORS CONCERN ABOUT BISINESS RISK ................................................................6 3.1 REASONS FOR