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Audit risk is the risk of the auditor expressing an inaccurate opinion. True or False?

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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/02/25
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Danish Ahmed Khan
by Danish Ahmed Khan , Assistant Manager - Tax , KPMG

True. Audit risk comprises of three components.

  1. Inherent risk
  2. Control risk
  3. Detection risk

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