Auditors' Risk Assessments: The Effects of Elicitation Approach and Assertion Framing

This experimental study replicates, using U.S. audit practionioners, Fukukawa and Mock (2011), who investigated the effects of probability-based versus belief-based risk assessments and positive versus negative assertions on auditor judgments. Most results are consistent with the prior study: (1) significant differences between probability-based and belief-based risk assessments are observed; (2) assessed risks are significantly higher and...