Question
Problem #3 Auditors have assessed inherent risk for a particular assertion at 70% and control risk at 15%. In addition, they have performed audit procedures
Problem #3
Auditors have assessed inherent risk for a particular assertion at 70% and control risk at 15%. In addition, they have performed audit procedures that they believe have a 15% risk of failing to detect a material misstatement in the assertion. Calculate the audit risk.
Audit Risk =
THE ANSWER MUST BE A PERCENTAGE WITH 2 DECIMAL PLACES EXAMPLE = 21.56%
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Auditing A Risk Based-Approach
Authors: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
11th Edition
1337619455, 1337619450, 9781337670203 , 978-1337619455
