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When there is a low risk of material misstatement with an assertion and the client's system of internal controls is considered effective at reducing risk,
When there is a low risk of material misstatement with an assertion and the client's system of internal controls is considered effective at reducing risk,
detection risk is set at high
detection risk is set at low
control risk is ignored
inherent risk is set to medium
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Financial Accounting
Authors: John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Jodie Maxfield, Andreas Hellmann, Claire Beattie
9th Edition
1118608208, 978-1118608203
