Formally respond to the following question: Do you find the audit risk model to be...
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Accounting
Formally respond to the following question:
Do you find the audit risk model to be a useful conceptual tool for thinking about evidence-related decisions in the audit? In practice, why do you think that audit firms do not typically assign numerical values to inherent risk, control risk, and detection risk? Do you think there are trade-offs among the three risks, such that low levels of one or two would cause the auditor to minimize worry about the third?
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