THE RISK APPROACH: AN ALTERNATIVE TO THE CLASSIC AUDIT APPROACH

This study will focus on addressing risk. The purpose of this article is to highlight the importance of the risk approach in the pursuit of effectiveness and efficiency in audit work. To demonstrate this, we will first show the limitations of the classical audit approach, then illustrate the importance of the risk-based approach, and finally present the approach to auditing according to this approach. A risk-based approach also improves an organization's decision-making process, regardless of its industry focus. Therefore, a risk-based approach consists of identifying, assessing, and understanding risks, as well as the subsequent application of measures proportionate to these risks to ensure their effective mitigation.