what is the audit risk in favour of an chartered accountant ?



what is the audit risk in favour of an chartered accountant ?..

Answer / lalit singh

The risk that an auditor will not discover errors or
intentional miscalculations (i.e. fraud) while reviewing a
company's or individual’s financial statements. There are two
general categories of audit risk – risk regarding assessment
of the financial materials and risk regarding the assertions
produced by evaluation of the financial materials.

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