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Explain the relationship between materiality and risk

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1. Explain the relationship between materiality and risk. Provide examples.

2. Assume that one auditor is more professionally skeptical than another auditor, and that they are making the materiality judgment of a same company. Compare the possible alternative monetary materiality thresholds that a more versus less skeptical auditor might make for the same audit client.

Reference no: EM132633202

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