Auditors frequently refer to the termsaudit assurance, overall assurance, andlevel of assurance to refer toDetection riskO Audit report riskAcceptable audit riskO Inherent risk

Audit risk is the risk that an auditor express an inappropriate audit opinion when the financial…

Answered: Auditors frequently refer to the terms…

Auditors frequently refer to the terms audit assurance, overall assurance, and level of assurance to refer to O Detection risk O Audit report risk O Acceptable audit risk O Inherent risk

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter7: Planning The Audit: Identifying, And Responding To The Risk Of Material Misstatement

Section: Chapter Questions

Problem 17MCQ

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Question

Auditors frequently refer to the terms
audit assurance, overall assurance, and
level of assurance to refer to
Detection risk
O Audit report risk
Acceptable audit risk
O Inherent risk

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