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1、原文THEAUDITRISKMODEL,BUSINESSRISKANDAUDIT-PLANNINGDECISIONSI.INTRODUCTIONAuditorshavebeenshowntoadjusttheelementsoftheauditriskmodel(ARM)andincreasetheauditinvestmentinresponsetoincreasingriskthatclientfinancialstatementscontainmaterialmisstatements(e.g.,Joyce1976;Gaumni
2、tzetal.1982;Kaplan1985;Libbyetal.1985;O'Keefeetal.1994).Thereisalsoevidencethatauditorsrespondtobusinessrisk--theriskoflossorinjurytoanauditor'sprofessionalpracticeduetoclientrelationships--byincreasingtheinvestmentintheauditand/orchargingfeesabovetheamountsrequiredtoco
3、verthecostsofconductingaudits(e.g.,PrattandStice1994;Walo1995).Whilethisresearchsuggeststhatauditorsreacttobothauditandbusinessrisk,itdoesnotidentifytheconditionsunderwhichauditdecisionsreflectbusinessrisksnotcapturedbytheARM.Insuchcases,theARM,astandardofprofessionalau
4、ditpractice,failstodescribeauditbehavior.TheARMprimarilyaddressestherisksassociatedwithissuingunqualifiedauditopinionsonclientfinancialstatementsthatcontainmaterialmisstatements.Businessrisk,ontheotherhand,ispresentevenwhenauditorscomplywithgenerallyacceptedauditingstan
5、dards(GAAS)andrenderappropriateauditopinions.Theprimarycostsassociatedwithbusinessriskrelatetolitigation,whethertheexposureleadstoauditorsbeingheldliableforclientstakeholderlosses.Othercostsrelatetosanctionsimposedbyregulatorybodies,impairedreputationandfailuretocollect
6、fees.Businessriskencompassesmorethantherisksassociatedwithissuingunqualifiedopinionsonmateriallymisstatedfinancialstatements.Aclientwithaweakinternalcontrolsystemexperiencingfinancialdifficulty,forexample,introducestwokindsofrisks:theriskofamaterialmisstatementandtheris
7、koffinancialfailure.TheARMreflectsonlythefirst;businessriskencompassesboth.TheARMhasbeendesignedtoserveasaguideforauditplanning(Cushingetal.1995;AICPA1997a).SometimestheguidanceprovidedbytheARMiscloudedwhenbusinessriskisbroughtintojuxtapositionwiththeriskcapturedbytheAR
8、M.ArensandLoebbecke(1997,259)suggestthatthereisdisagreementaboutwhetherauditorsshould,orshouldnot,adjustaccept
