Auditing Basics: Audit Risk, Control Risk, and Detection Risk
What Types of Risk Impact SOC 1 and SOC 2 Audits? SOC 1 and SOC 2 audits are largely impacted by various types of risk. During a SOC 1 and SOC 2 audit, an auditor will be focused on limiting the following types of risk: audit risk, control risk, and detection risk. So, how are those risks different? How to they affect an auditor while performing SOC 1 or SOC…