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• Part II-Understand factors influencing risks and the relationship of risks to audit evidence (Chapter 9-LO 9.6 & 9.7)
• The purpose of Part II is to identify factors influencing risk and relationship of risks to audit evidence.
• Assess acceptable audit risk after reviewing 3 factors using methods introduced in Table 9-2 (high, medium or low)
• Assess inherent risk after reviewing several factors (pages 276-277) in terms of high, medium or low
• Identify account or accounts that may be affected