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HMRC internal manual

Holding and Movements Alcohol Strategy - Audit Risk & PERCET

Audit Risk Model: Detection Risk

The risk that given that an error of significance has taken place, you do not pick upany of the items during the compliance or substantive testing on the assurance visit, andthus conclude incorrectly on the accuracy of the trader’s declarations.

However, detection risk is where credibility testing comes in – and all assuranceevents should contain an element of credibility testing. Credibility testing is key tooperational activity under the Alcohol Strategy. Further information is provided withinthe HMASCR Credibility guidance.