The probability that an auditor will give an inappropriate opinion on the financial statements best describes
A) Audit risk.
B) Inherent risk.
C) Control risk.
D) Detection risk.
Correct Answer:
Verified
Q16: Since management is most familiar with an
Q21: An auditor considers two factors in understanding
Q22: The existence of audit risk is recognized
Q23: When an auditor increases the planned assessed
Q24: After obtaining an understanding of the internal
Q25: An auditor might suspect that the auditee
Q29: Inherent risk is the
A) Probability that some
Q32: Company-level controls can have a big impact
Q38: Detection risk is the probability that audit
Q57: The ultimate purpose of assessing control risk
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