Explain how you would describe to the management team the difference between a compliance and a substantive audit.
Capella University Continuous Auditing and Risk Based Audit Planning Discussion

Question Description
Write 750 words

The management team of PVSS is concerned that the team may be trying to audit too many areas and that things may be missed. They are also concerned that PVSS will not be able to finish solving all of the issues in a timely manner. With this in mind, they have decided to focus on only a few key issues.

What is your understanding of how a risk-based audit may address these concerns?
Explain how you would describe to the management team the difference between a compliance and a substantive audit. Provide examples to help clarify your explanation.
Which type of audit should be performed in this project and why?
Grading Rubric:

Discussion Topic

Points

Explain how a risk-based audit will help focus the effort of remediation.

20

Explain the difference between a compliance and substantive audit.

20

Quality of writing:

Grammar
APA format
Use at least 2 credible sources
10