Question: Why do certain accounts have to be audited? Why is materiality allocated only to those accounts that are sampled? Is any component of audit risk

Why do certain accounts have to be audited?

Why is materiality allocated only to those accounts that are sampled?

Is any component of audit risk within the control of the auditor? Explain.

How are the three risks that make up audit risk interrelated?

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a Accounts need to be audited so that other people can rely on that information and make correct decisions for investment Further it helps the company management to get ensured that the company is run... View full answer

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