[bingopriests]

Cheers mate

[bingopriests]

i identified and explained 3 inherent risks and 1 detection and 1 control risk in question 1. is that ok?

[bingopriests]

Can anyone confirm for sure whether it is correct or incorrect to classify audit risks in Q1 into inherent, control and detection risks?

[bingopriests]

For Audit Risk question I classified risks under headings Inherent, Control and Detection Risk. I included 3 risks under Inherent Risk and 1 risk each for Control and Detection Risk. Detection risk may occur if auditors preliminary assessment of materiality is incorrect and hence, will apply insufficient audit procedures.

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