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Explain the audit risk and inherent risk terms

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Reference no: EM131680076

Q1. What do we mean by the terms relevance and reliability as the terms relate to audit evidence?

Q2. Why do auditors need to document audit work and conclusions - and how do they document this work and conclusions?

Q3. Discuss and explain the following terms: audit risk, inherent risk, control risk and detection risk.

Reference no: EM131680076

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