Stacey, the partner in charge of the audit of GHER Corporation, calculates that detection risk to be
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Question:
Stacey, the partner in charge of the audit of GHER Corporation, calculates that detection risk to be 5.7% for the audit of accounts payable. GHER Corporation and RIF Enterprises are in the same industry, close to the same size, and have similar balances in accounts payable.
What do the different detection risks tell you about the planned audit evidence that will be gathered for the GHER Corporation audit?
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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