The auditor's primary concern is the risk of material misstatements in the financial statements due to business risk.

Question

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The auditor's primary concern is to identify and assess the risk of material misstatements in the financial statements, which may arise due to business risk, financial reporting risk, and other factors. The auditor's objective is to obtain sufficient and appropriate audit evidence to support their opinion on the fairness of the financial statements.

The Auditor's Primary Concern Is the Risk of Material Misstatements