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Examine about the Risk-based auditing
A risk based audit will be reviewing the risk management process and considering main risks of the organisation as a whole.
Risk management procedures are used to assess what risks will impact on business. These are not only within the organisation however much wider and look outside the business externally into its environment. If these risks aren't mitigated then business maybe severely affected resulting in the business not continuing in the future. Illustrations are competition, latest business developments, the state of the economy and social trends.
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QUESTION 1 (a) What do you understand by the term Civil Society Organisations? (b) Distinguish between sectional and promotional groups. Give examples to support your answer
are footnotes important in analysing ratios
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