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What is Audit risk? What is the role of an Audit committee? Write about Engagement letter and its importance? What is Engagement risk? When an

  1. What is Audit risk?
  2. What is the role of an Audit committee?
  3. Write about Engagement letter and its importance? What is Engagement risk?
  4. When an Auditor finds misstatements in entities financial statements which may be the result of fraudulent act, what should be the role of an auditor under that situation?

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