Some account balances, such as those for pensions and leases, are the result of complex calculations. The

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Some account balances, such as those for pensions and leases, are the result of complex
calculations. The susceptibility to material misstatements in these types of accounts is defined as:
(1) Audit risk.
(2) Detection risk.
(3) Inherent risk.
(4) Sampling risk.

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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0134613116

14th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

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