DETERMINATION OF AUDIT RISK ASSESSMENT METHODOLOGY
Its a well-known fact that estimation and control of risk consist in every stage of audit process, however, intuitional estimation of audit risk and methods of its control are not defined in practice. Meanwhile, the importance of the properly organized and efficient process of estimation and control of audit risk are quite high. The reduction of audit risk to its minimal value is considered to be the guarantee of the high-quality audit work carried out and the conclusion made on its basis. In this respect the issues of audit risk estimation are quite urgent for the theory and practice of audit.
Natalia V. Konovalova, senior lecturer of Samara Branch of Russian State Commerce and Economic University, Tatyana A. Korneeva, Doctor of Economics, Professor, Samara State University of Economics.