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1.The auditor performs risk assessment procedures to identify and assess the risk of material misstatement, whether dur to error or fraud True False 2.Significant risks

1.The auditor performs risk assessment procedures to identify and assess the risk of material misstatement, whether dur to error or fraud

True

False

2.Significant risks often relate to nonroutine transactions. Therefore all nonroutine transactions must be identified as significant risks in an audit.

True

False

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