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Auditors identify significant risks when performing their audits. Required: a. Explain what is meant by a significant risk. b. What factors do auditors consider in

Auditors identify "significant risks" when performing their audits. Required: a. Explain what is meant by a significant risk. b. What factors do auditors consider in assessing whether a risk is a significant risk? c. Describe how a significant risk should be treated in an audit

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