Question
Prior to starting Turner Inc.s annual audit, Cynthia Witt reviews the audit working papers of the prior year to determine the risk that a client's
Prior to starting Turner Inc.’s annual audit, Cynthia Witt reviews the audit working papers of the prior year to determine the risk that a client's system of internal controls will not prevent or detect a material misstatement. Which one of the following does this review refers to?
a. audit risk
b. control risk
c. inherent risk
d. detection risk
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b control risk Control risk is the risk that the entitys internal controls are incapable of prevent...Get Instant Access to Expert-Tailored Solutions
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Accounting Information Systems
Authors: George H. Bodnar, William S. Hopwood
11th Edition
0132871939, 978-0132871938
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