RISK ASSESSMENT METHOD IN THE AUDIT PROCESS
The article discusses methods for assessing the significant risk of misstatement due to fraud in the external audit process. Based on the triangle of fraud, a risk assessment algorithm basedon an expert method is proposed. The significance of risk factors is determined taking into account their probability, a comprehensive assessment is carried out on the basis of a multiplicative model. The presented fraud risk assessment algorithm is universal and can be used to assess the risk of material misstatement due to fraud both at the level of audited reports as a whole and at the level of individual reports (assumptions), as well as account balances, groups of transactions and disclosures that are fully consistent with all existing performance standardization systems.