For those in audit, what do you call risks at your firm? PwC uses likely source of potential misstatement (LSPM). EY uses what could go wrongs (WCGW). What about the other firms?

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Wcgw

Risk of Material Misstatement (RMM) at BDO

Same at RSM

ROMM

I’ve worked at small firm, PWC, and EY.


Small firm: RMM
PWC: LSPM
EY: WCGW

RMM and we address the WCGW within?

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