The risk of material misstatement is a function of the susceptibility of the financial statements to misstatement; the effectiveness of the client's controls in preventing or detecting these misstatements has no impact on the risk of material misstatement.
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Q11: Zero risk is certainty, and a 100%
Q12: _ is the risk that the financial
Q13: Client business risk is the risk that
Q14: The auditor is likely to accumulate more
Q15: The auditor uses knowledge gained from the
Q17: Initial audit planning involves four matters. Which
Q18: In what order should the following steps
Q19: One of the purposes of an engagement
Q20: The risk of material misstatement is the
Q21: For public companies, the _ is responsible
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