The risk that the auditors own testing procedures will lead to the decision that material misstatements do
Question:
The risk that the auditors’ own testing procedures will lead to the decision that material misstatements do not exist in the financial statements when in fact such misstatements do exist is
a. Audit risk.
b. Inherent risk.
c. Control risk.
d. Detection risk.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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a Incorrect Audit risk also considers the risk of material ...View the full answer
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Related Book For 
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
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