Explain what is meant by the following terms: (i) Audit risk (ii) Inherent risk (iii) Control risk

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Explain what is meant by the following terms:
(i) Audit risk
(ii) Inherent risk
(iii) Control risk
(iv) Detection risk

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Auditing

ISBN: 9781473749306

11th Edition

Authors: Alan Millichamp, John Taylor

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Question Posted: Sep 17, 2023 08:44 AM

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Explain what is meant by the following terms: (i) Audit risk (ii) Inherent risk (iii) Control risk

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i Audit risk The risk that an auditor forms an invalid conclusion afte...View the full answer

Auditing

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