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Chapter 4 Discussions 1. What do we mean by the terms relevance and reliability as the terms relate to audit evidence? 2. Why do auditors

Chapter 4 Discussions

1. What do we mean by the terms relevance and reliability as the terms relate to audit evidence?

2. Why do auditors need to document audit work and conclusions and how do they document this work and conclusions?

3. Discuss and explain the following terms: audit risk, inherent risk, control risk and detection risk.

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