material misstatement Archives

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Distinguish the different types of risk assessment procedures-Describe the auditor’s responsibility to identify significant risks.

Posted on February 10, 2023 by Shady

ASSESSING THE RISK OF MATERIAL MISSTATEMENT Define risk in auditing.Distinguish the different types of risk assessment procedures. Understand important auditor considerations related to the risk of material misstatement due to fraud.Describe the auditor’s responsibility to identify significant risks. Describe the audit risk model and its components.Assess acceptable audit risk.Consider the impact of several factors on the assessment […]

Explain how the risk of material misstatement should be assessed and how detection risk could be affected by the assessment.

Posted on October 26, 2022 by Shady

Accounting Assignment Question(s): Q1. Read the following situations and explain how the risk of material misstatement should be assessed and how detection risk could be affected by the assessment. Kelvin is a trucking company. The company is publicly held, and growing rapidly throughout the southeast. But Richard Kelvin and his sons control 55 % of […]

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