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How does risk of material misstatement fit into audit risk

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Reference no: EM132788214

problem 1: How does the risk of material misstatement fit into the audit risk model and impact audit planning?

Group of answer choices

A: The risk of material misstatement is the overall risk to be borne by the audit firm.

B :The risk of material misstatement is the total risk contained in the audit, including sampling and nonsampling risks.

C: The risk of material misstatement is the combination of inherent risk and control risk, and is used to determine detection risk.

D: The risk of material misstatement is the combination of control risk and detection risk, and is used to estimate fraud risk in the financial statements.

Reference no: EM132788214

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