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3. We discussed the audit risk model in class. There are three components of this model. Required: a. Define audit risk. b. Describe in detail

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3. We discussed the audit risk model in class. There are three components of this model. Required: a. Define audit risk. b. Describe in detail each of the three components and how they are related to each other. . c. Which component(s) do auditors assess and which do they have control over

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