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Author Question: Which of the following is an accurate statement regarding audit risk, audit failure, and business failure? (Read 108 times)

Emmejo01

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on: Aug 21, 2022

Question 1

A(n) ________ failure occurs when an auditor issues an erroneous opinion because it failed to comply with requirements of auditing standards.
◦ business
◦ audit
◦ ethics
◦ process

Question 2

Which of the following is an accurate statement regarding audit risk, audit failure, and business failure?
◦ Audit risk is always avoidable if the audit is conducted in accordance with generally accepted auditing standards.
◦ Because auditors gather evidence on a test basis, and because well-concealed frauds are difficult to detect, audit risk is unavoidable.
◦ Legal precedent makes it easy to determine who has the right to recover losses in the event of an audit failure.
◦ A business failure will always result in an audit failure.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by Emmejo01 on Aug 21, 2022

kalimarie

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Emmejo01

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

T4T

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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