Question: While assessing the risks of material misstatement auditors identify risks, relate risk to what could go wrong, consider the magnitude of risks and a. Assess

While assessing the risks of material misstatement auditors identify risks, relate risk to what could go wrong, consider the magnitude of risks and

a. Assess the risk of misstatements due to illegal acts.

b. Consider the complexity of the transactions involved.

c. Consider the likelihood that the risks could result in material misstatements.

d. Determine materiality levels.

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