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Auditing

Lecture 7 & 8

Audit risk, inherent and control risk, internal controls, substantive procedures, and audit sampling.

Question 12 of 57

Audit risk does NOT include:

Pick one: press 1-4 on your keyboard or click an option.
A

The risk that procedures fail to detect a material misstatement

B

The risk that the auditor expresses an inappropriate opinion when the financial statements are materially misstated

C

The risk that the auditor expresses that the financial statements are materially misstated when they are not

D

The risk of material misstatement prior to audit