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T he CPA firm of Lumley & Lu uses a quantitative approach to implementing the audit risk model. Calculate detection risk for each of the

T

he CPA firm of Lumley & Lu uses a quantitative approach to implementing the audit risk model. Calculate detection risk for each of the following hypothetical clients. (Omit the "%" sign in your response. Round your final answer to the nearest whole number.)

Client No. Audit Risk Risk of Material Misstatement Detection Risk
1 5% 20% %
2 5% 50% %
3 10% 15% %
4 10% 40% %

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