Question: 1.Audit risk can never be zero. Explain why 2. ACB Pty Ltd has many overseas suppliers. The treasurer can authorise any overseas payments below 5,000AUD

1."Audit risk can never be zero". Explain why

2. ACB Pty Ltd has many overseas suppliers. The treasurer can authorise any overseas payments below 5,000AUD without management approval. Identify inherent risk and control risk.

3. What does it mean to the audit when increasing the level of materiality?

4. Can the auditor control inherent risk? Explain your answer

3points

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