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Audit risk refers to the possibility that auditors may unknowingly fail to appropriately modify their opinion on financial statements that are materially misstated. So, auditors

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Audit risk refers to the possibility that auditors may unknowingly fail to appropriately modify their opinion on financial statements that are materially misstated. So, auditors should plan and perform the audit to obtain reasonable assurance that material misstatements, whether caused by errors or fraud, are detected. Highlight how the auditors are assessing risks of material misstatements

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