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Many auditors take an approach to assessing the risk of material misstatement by beginning with...

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Accounting

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Many auditors take an approach to assessing the risk of material misstatement by beginning with an assessment of business risks. a. What are business risks and describe two different examples of business risks. b. Describe in details as to why have auditors found it effective to take the approach of assessing business risks. c. In the two examples of business risks described in a) above, explain in details how it might affect the auditor's audit procedures

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