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Explain the difference between Business risk and risk of material misstatement?

Accounting Auditing Financial Reporting Banking &amp Finance
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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2020/06/22
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Asma Salimeen

Audit risk therefore includes any factors that may cause a material misstatement or omission in the financial statements. Whereas business risks relate to the organization and its stakeholders, audit risk relates specifically to an auditor

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