Are the concepts of reliability of evidence and audit risk interrelated, or are they two separate concepts?

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Are the concepts of reliability of evidence and audit risk interrelated, or are they two separate concepts? For example, could the auditor accept less reliable audit evidence for an engagement in which audit risk has been set high as opposed to an engagement in which audit risk has been set lower than normal? Explain.

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Auditing a business risk appraoch

ISBN: 978-0324375589

6th Edition

Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston

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