The influence of detection risk-based approach on reducing risk of material misstatement at the financial statements

The article is devoted to detection risk assessment as one of the elements of audit risk. In the course of investigations by case study of Stroitel-2000 LLC, the authors applied several techniques for audit risk assessment. They revealed that the probability mathematics method of fuzzy sets is the most effective one. This method has been improved by working out criteria for referring risk classes (low, average, high).