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Hi sir.
in chap 9 risk , you said that if inherent and control risk are low then detection risk willbe higher.
But sir, if these two are low then obviously detection risk will also be low ryt? how come it can be high ?What it means is that if inherent risk is low and control risk is low, then there is very little chance of errors in the FS. Therefore the auditor does not have to do as much work. In an extreme case (never done in practice!) the auditor might decide to do no work. Obviously then if there were an error in the FS there would be no hope of detecting it so the detection risk would be very high indeed.
ok . thank you sir and by the way can you say me in which chapter of ot notes does it reflect materiality concept?
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