The likelihood that material misstatements may have entered the accounting system and not been detected and corrected

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The likelihood that material misstatements may have entered the accounting system and not been detected and corrected by the client’s internal control is referred to as
a. Inherent risk.
b. Control risk.
c. Detection risk.
d. Risk of material misstatement.

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Auditing and Assurance Services

ISBN: 978-0077862343

6th edition

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

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