Toward modeling constructs for audit risk assessment: reflections on internal controls modeling

Abstract

Auditors face a number of challenges when performing audit risk assessment. To cope with these challenges, methods are required that purposefully reduce the complexity inherent to internal control systems and that facilitate communication about internal control matters among groups of stakeholders with differing perspectives on the subject matter. In this paper, we investigate the potentials of an enterprise modeling approach to audit risk assessment and propose conceptualizations for modeling constructs as enhancements to enterprise modeling to support audit risk assessment.