ISA 315 states that auditors should understand the entity and its environment sufficiently to identify and assess risk of material misstatements in financial statements. It divides total audit risk in inherent risk, control risk and detection risk.
Identify the factors that would cause detection risk and control risk explaining clearly how the factors identified will cause the risk.
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Audit Risk
10y ago#1Have you read the free course notes? Or listened to the lectures? These risks are fully discussed on this site - even at the lower F8 level!
We will help you but ........ you must be prepared to help yourself too
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