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The risk that an external auditor may not detect a material error or fraud during an audit is increased by the possibility of: Appointment of
The risk that an external auditor may not detect a material error or fraud during an audit is increased by the possibility of:
- Appointment of the auditor after the close of the fiscal year
- Management override of controls
- Review of the engagement letter by those charged with governance
- Fundamental differences in the application of generally accepted accounting principles
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