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Below are 4 scenarios that involve the audit risk model: Scenario 1 Scenario 2 Scenario 3 Scenario 4 Audit Risk 5% 5% 3% 3% Inherent
Below are 4 scenarios that involve the audit risk model:
| Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | |
| Audit Risk | 5% | 5% | 3% | 3% |
| Inherent Risk | 100% | 90% | 50% | 75% |
| Control Risk | 90% | 60% | 90% | 75% |
Which scenario will require the least amount of audit evidence?
| Scenario 1 | ||
| Scenario 2 | ||
| Scenario 3 | ||
| Scenario 4 |
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
17th Edition
013517614X, 978-0135176146
