Multiple Choice
Which of the following statements regarding audit risk (AudR) and accounting risk (AccR) is FALSE?
A) AccR is largely geared to reflect business risks of the auditee.
B) AccR is the material difference between an estimate involving future events and its outcome.
C) AudR is something that is relevant to the auditee but not to the auditor.
D) The auditor has to consider both AudR and AccR and somehow combine them using professional judgment.
Correct Answer:
Verified
Correct Answer:
Verified
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