- This topic has 1 reply, 2 voices, and was last updated 9 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
IR refers to the risk involved in the nature of business or transaction. Example, transactions involving exchange of cash may have higher IR than transactions involving settlement by cheques.
CR refers to the risk that a misstatement could occur but may not be detected and corrected or prevented by entity’s internal control mechanism
Is the above definition appropriate for a qs asked in exm to define thm?
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.