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Risk assessment

AAshwin11y ago
Sir Gromit this process is done by whom? I guess its not the EA's work
kengarrettkengarrettTutor11y ago#1
Risk assessment is very much the external auditor's work. Its purpose is to assess the risks of material misstatement in the financial statements. More risk implies that more audit work is needed to provide reasonable assurance that the FS are free of material misstatement.
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