1a. What is the role of risk assessment is setting the samplingsize in a...

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Accounting

1a. What is the role of risk assessment is setting the samplingsize in a substantive audit testing?-Discuss
2. Can we compare control activities and control environment?-Discuss

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Role of Risk assessment Audit has an inherent limitation with respect to time available and scope of the audit This implies that we do not have unlimited time to check each and every aspect of financial statement in details while there be still be a risk of material misstatement in the financial statements Therefore while performing a substantive audit procedure we See Answer

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In: Accounting1a. What is the role of risk assessment is setting the samplingsize in a substantive...1a. What is the role of risk assessment is setting the samplingsize in a substantive audit testing?-Discuss2. Can we compare control activities and control environment?-Discuss