Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk. To indicate: The difference between the inherent risk and control risk and detection risk.

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Answer 1

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Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

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Answer 2

Question

Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

Answer 6

Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

Answer 7

Chapter 4, Problem 4.2RQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

To indicate:The difference between the inherent risk and control risk and detection risk.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 4 - Prob. 4.1RQ Ch. 4 - Prob. 4.2RQ Ch. 4 - Prob. 4.3RQ Ch. 4 - Prob. 4.4RQ Ch. 4 - Prob. 4.5RQ Ch. 4 - Prob. 4.6RQ Ch. 4 - Prob. 4.7RQ Ch. 4 - Prob. 4.8RQ Ch. 4 - Prob. 4.9RQ Ch. 4 - Prob. 4.10RQ

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk. To indicate: The difference between the inherent risk and control risk and detection risk.

Solution Summary: The author explains that audit risk is a risk of providing an inappropriate opinion on the basis of his findings during the audit. Audit risk has three components: inherent risk, control risk and detection risk.

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