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I dont know how to answer audit risk and auditor response question?
auditor response is it like stating audit procedures ? Should it start with verbs ??
An audit response is anything the auditor decides to do to counter the risk, so looking for a verb is fine. Audit responses could include:
Attending physical stocktake
Increasing the amount of substantive procedures
Inspecting correspondence
Inspecting after-period receipts from customer
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