INHERENT RISK Definition

Bookmark and Share

INHERENT RISK, generally, it is the risk found in the environment and in human activities that is part of existence. In accounting, it is the susceptibility of an audit area to error which could be material, individually or in combination with other errors, assuming that there are no related internal controls.

Learn new Accounting Terms

NAIRA is a currency of Nigeria.

10-K is the audited annual report that most reporting companies file with the Securities and Exchange Commission (SEC). It provides a comprehensive overview of the registrants business. The report must be filed within 90 days after the end of the companys fiscal year.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.