Question 4 Audit risk represents the risk that a)Auditors will issue an adverse audit report, when in...

60.1K

Verified Solution

Question

Accounting

Question 4
Audit risk represents the risk that
a)Auditors will issue an adverse audit report, when in fact,they should have issued an unqualified opinion
b)Auditors will give an opinion that the financial statementsare not fairly stated, when in fact, they were fairly stated
c)Auditors will give an opinion that the financial statementsare fairly stated, when in fact, they were materially misstated

Answer & Explanation Solved by verified expert

4.3 Ratings (905 Votes)

In my view audit risk is when an auditor gives his opinion as Financial statements are fairly stated when there is materially misstated Auditors should be able to find out the See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

		a)Auditors will issue an adverse audit report, when in fact,they should have issued an unqualified opinion

		b)Auditors will give an opinion that the financial statementsare not fairly stated, when in fact, they were fairly stated
		c)Auditors will give an opinion that the financial statementsare fairly stated, when in fact, they were materially misstated