Question: Below are four situations that involve the audit risk model as it is used for planning audit evidence requirements in the audit of inventory. For

Below are four situations that involve the audit risk model as

Below are four situations that involve the audit risk model as it is used for planning audit evidence requirements in the audit of inventory. For each situation, calculate planned detection risk. SITUATION 2 4 Accepta 1% 10% 10% 5% ble Audit risk Inherent 100% 100% 50% 20% risk Control 100% 100% 40% 30% risk Detectio n risk

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