During financial statement audits,auditors seek to restrict which type of risk?
A)Control risk.
B)Detection risk.
C)Inherent risk.
D)Account risk.

Question

Quizplus · Accepted Answer

Detection risk is the risk that auditors fail to detect material misstatements in the financial statements. Auditors aim to reduce this risk through substantive testing and other audit procedures. Control risk and inherent risk are components of audit risk that auditors assess but do not directly control, while "account risk" is not a standard term in auditing.

During Financial Statement Audits,auditors Seek to Restrict Which Type of Risk