The more serious error of the errors associated with the risk of incorrect acceptance and the risk of incorrect rejection is the error related to the
A)relevance of the audit
B)reliability of the audit
C)effectiveness of the audit
D)efficiency of the audit

Question

Quizplus · Accepted Answer

The risk of incorrect acceptance affects the effectiveness of the audit because it means that the auditor may conclude that the financial statements are free of material misstatement when they are not, leading to an ineffective audit.

The More Serious Error of the Errors Associated with the Risk