Thomson Reuters Global Resources

James B Bassett

Stephen Wilson Lindsey

Marriette Louise Kershner

L Scott Spradling

Charles Jacobus

The present invention provides a computer-implemented method for assessing risks associated with an audit. A user is presented with a plurality of audit items and a set of risk levels associated with the audit items and may also be presented with a plurality of prompts designed to elicit a set of responses from the user. The set of user responses being associated with a set of risks associated with the audit. The set of risk levels being associated with a set of assertions associated with the audit items and may include first and second risk levels of different degrees. The method further includes processing a set of responses received from the user in response to the items presented. The method includes automatically generating a suggested audit approach that is based at least in part on the processed responses. The method may also determine a set of procedures that are based on the responses. The set of procedures are presented to the user based on the suggested audit approach. The user is presented for selection with a set of audit approaches comprising the suggested audit approach and an alternative audit approach.

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Fort Worth, TX, United States of America

James B Bassett