Inherent risk and control risk differ from detection risk in that they ________.
A)arise from the misapplication of auditing procedures
B)may be assessed in either quantitative or non-quantitative terms
C)exist independently of the financial statement audit
D)can be changed at the auditor's discretion

Question

Quizplus · Accepted Answer

Inherent risk and control risk exist independently of the financial statement audit, whereas detection risk is related to the auditor's procedures and can be influenced by the auditor.

Inherent Risk and Control Risk Differ from Detection Risk in That