Audit risk is the risk that an entity's internal control system will not prevent or detect material misstatements.

Name: Audit risk is the risk that an entity's internal control system will not prevent or detect material misstatements.
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Quizplus · Accepted Answer

Audit risk is the risk that an auditor may issue an unqualified opinion on financial statements that contain a material misstatement, not specifically related to the entity's internal control system's ability to prevent or detect such misstatements.

Audit Risk Is the Risk That an Entity's Internal Control