Features of risk assessment of material misstatement during audit of financial instruments

The article identifies the risk of material misstatement as an element of the audit risk model, discusses the main provisions of the International Standards that are necessary to understand the nature of audit risk and its assessment, and also identifies problematic issues that should be considered in the process of conducting a material misstatement risk assessment during an audit. financial instruments: the nature of financial instruments, elements of the control system and unscrupulous actions by management and mines. The issues of audit risk assessment have always been the object of professional judgment, and understanding the essence of financial instruments and operations conducted with them cause additional difficulties, which increases the relevance of this work.