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Why is it important to distinguish the auditor s assessment of the risk of material misstatement due to fraud from the assessment of the risk

Why is it important to distinguish the auditor

assessment of the risk of material misstatement due to

fraud from the assessment of the risk of material

misstatement due to error?

Describe examples of characteristics of transactions and

balances that might cause an auditor to determine that a

risk of material misstatement is a significant risk.

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