Explain why inherent risk is set for segments rather than for the overall audit. What is the
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Inherent risk is set for segments rather than for the overall audit because misstatements occur in segments By identifying expectations of misstatements in segments the auditor is thereby able to modify audit evidence by searching for misstatements in those segments When inherent risk is increased from medium to high the auditor should increase the audit evidence accumulated to determine whether the expected misstatement ...View the full answer
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Related Book For 
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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