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Question [CLO 5] (5 Marks) (a) In accordance with International Standards on Auditing (ISA) 320, materiality and audit risk are interrelated and must be
Question [CLO 5] (5 Marks) (a) In accordance with International Standards on Auditing (ISA) 320, materiality and audit risk are interrelated and must be considered throughout the audit process. Why? Appraise your views. (3 Mark) (b) In the light of International Standards on Auditing (ISA) 315, why does an auditor need to know the client business? Discuss with the help of relevant examples. (2 Marks)
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Financial Accounting with IFRS Fold Out Primer
Authors: John Wild
5th edition
978-0077408770, 77408772, 978-0077413804
