What Is Audit Risk

question 111

Multiple Choice

What is audit risk?

• A)The risk that an auditor expresses an inappropriate audit opinion when financial statements are materially misstated
• B)The risk that is explicit or implied and made by management regarding the recognition, measurement, presentation and disclosure of items included in the financial statements and notes
• C)The risk that a client's internal controls will not prevent or detect a material misstatement on a timely basis
• D)The assessed risk of material misstatement that, in the auditor's judgment, requires special audit consideration

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