Consider the following statement: If inherent and control risk are high, the auditor will set detection risk

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Consider the following statement: ‘If inherent and control risk are high, the auditor will set detection risk as low to maintain a low audit risk’. Explain what it means to set detection risk as low. What does this mean for the operation of the audit?

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Auditing A Practical Approach

ISBN: 9780730364573

3rd Edition

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton

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