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I have messed up this questions ( q2)
felt under too much pressure i have identified risk not relevant for an audit, but business risk. During practice at home i have never made that sort of mistakes.Would I get any mark for just identifying the risk without the explanation?
Thanks
BHello,
Explain FIVE audit risks, and the auditor’s response to each risk, in planning the audit of Eagle Heating Co.
This is a common mistake from students. If you have written only about business risks for the company it will hardly get any marks
If you still managed to identify AUDIT risks without explanation you could get 0.5 mark for each audit risk identified.
Ideally you wouldv have to identify each audit risk – then write two sentences – 1. explaining why this is audit risk. 2. what is the impact of audit risk on the audit plan.
Wish you a pass !
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