One of the argument for risk-based audit is: it is more cost efficient to focus on the risky area, rather than the traditional way. The traditional 'bottom-up' approach test almost all the details of the business, and almost every aspect of the businesses are covered (audited).
Whereas, the risk-based only focus on the risky area identified by the auditors.
Whereas, the risk-based only focus on the risky area identified by the auditors.
