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The Auditor prepares a disclaimer of opinion: a. When he cannot find any misstatement in the report. b. When he is not able to obtain sufficient appropriate audit evidences about an issue. C. When he finds some discrepancy in the treatment of some items. od. When the financial statements are not following GAAP. Question 41 Not yet answered Marked out of 1.00 P Flag question The risk of a material misstatement in the financial statements arising due to error or omission as a result of factors other than the failure of controls is called: a. Inherent Risk o b. Control Risk c. Audit Risk O d. Detection Risk Substantive tests comprise of: a. Documents trial and test of details. b. Test of details and analytical procedure. C. Test of control and test of details. d. Test of transactions and test of balances. Question 43 Not yet answered Marked out of 1.00 P Flag question Physical verification and counting of inventory is an example of which of the following techniques: a. Observation b. Analytical Procedures c. Inquiry od. Confirmation