Section 111 Explanation of part of model. Assume that an auditor uses the audit risk model...

 

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Section 111 Explanation of part of model. Assume that an auditor uses the audit risk model on two different situations as followe situation Audit Rink Inherent Risk Control Risk Detection Risk (an calculated) I .05 .20 -40 .625 11 .05 .40 .40 to be determined calculate "detection risk. Compared to situation I will the auditor do more or less "audit work" on situation II. Discuss. Refer to the audit risk model and it's components in your discussion. B. "Tell a story to explain "part A in a manner that someone not familiar with the audit risk model would likely understand. DO NOT refer to the audit risk model directly in your discussion. A. Detection risk, Amount of audit work, and Discussion [Refer to audit risk model] B. Story [DO NOT refer directly to the audit risk model] Section 111 Explanation of part of model. Assume that an auditor uses the audit risk model on two different situations as followe situation Audit Rink Inherent Risk Control Risk Detection Risk (an calculated) I .05 .20 -40 .625 11 .05 .40 .40 to be determined calculate "detection risk. Compared to situation I will the auditor do more or less "audit work" on situation II. Discuss. Refer to the audit risk model and it's components in your discussion. B. "Tell a story to explain "part A in a manner that someone not familiar with the audit risk model would likely understand. DO NOT refer to the audit risk model directly in your discussion. A. Detection risk, Amount of audit work, and Discussion [Refer to audit risk model] B. Story [DO NOT refer directly to the audit risk model]

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Audit Risk Control risk Inherent risk Detection risk Situation II FOR ... View the full answer