Question: Select the false statement regarding the concept of audit risk. A. Detection risk is a component of audit risk that can be controlled by the

Select the false statement regarding the concept of audit risk.

  • A. Detection risk is a component of audit risk that can be controlled by the auditor.
  • B. Audit risk = Inherent risk + Control risk + Materiality + Detection risk.
  • C. Audit risk can never be eliminated completely, because of the inherent limitations of an audit.
  • D. Audit risk is the possibility that the auditor might express an inappropriate opinion when the financial statements are materially misstated

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