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Question 4 (20 marks) The International Standards on Auditing deal with audit risk in ISA 315. YOU ARE REQUIRED TO: i. Identify and define the

Question 4 (20 marks)

The International Standards on Auditing deal with audit risk in ISA 315.

YOU ARE REQUIRED TO:

i. Identify and define the three constituent elements of audit risk. (6)

ii Describe the relationship amongst these elements and the manner in which they affect the auditors audit strategy. (14)

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