Risk Management in Audits


  • Jaqueline Elizabeth Balseca Castro
  • Víctor Alban Vallejo
  • Rafael Humberto Soler González
  • Mauro Patricio Andrade Romero
  • Betsy Sanchez Rodríguez


The objective of this paper isto show how risk management is used in some financial institutions when an audit is intended. With the formalization of risk management from the emergence of standards in recent decades and with the emergence of internal control as a management tool, audit processes in financial institutions have developed methodologies where audit risks (inherent, detection and control) are calculated in order to increase the quality of the process by promoting recommendations based on the incidence of the risks detected This action is not characteristic in most of the different types of audits that exist.  For this research, the analysis of descriptive studies based on information from government entities from different countries was used and an illuminating document of audit practices throughout the history of humanity was shown.  The results reveal the need to consider the risks in cases that merit it in favor of quality in the audit.