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Dear Sir,
I am self-studying F8 and very confused when outline the answer for these 2 types of questions: audit risk and control deficiency
As I see, the answers are usually formatted as follows:
– first you identify the risks/deficiencies, and explain/describe them.
– then, you have to give audit’s responses/make recommendations.
So, the meaning behind the two questions is the same?
Please help me to clarify this.
Thanks.Audit Risk is basically Inherent , Control and Detection Risks. So control deficiency will create an audit risk isn’t it ?
I think you’ve to give audit responses only if they ask for it.
Further this is discussion forum. If you need answer from tutor post it in ASK F8 TUTOR session
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