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Your assessments of inherent risk and control risk will determine the level of detection risk you seek to achieve through performance of further audit procedures.
Your assessments of inherent risk and control risk will determine the level of detection risk you seek to achieve through performance of further audit procedures. Based on this determination, you will design the nature, timing, and extent of audit procedures to achieve that level of detection risk. Describe ways in which you can vary the nature, timing, and extent of the following types of procedures to achieve desired detection risk.Analytical procedures
Nature
Timing
Extent
Test of details
Nature
Timing
Extent
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