What is risk of material misstatement

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Reference no: EM13139777

If you are an external auditor, you are currently panning the 2011 audit of X Limited. You've been given that:

New product A constitutes 2 percent of total sales;
New product B constitutes 7 percent of total sales;
products sold to government constitutes 50 percents;
other products constitutes 41 percent of total sales.

As an auditor, what is(are) the key audit objective(s) relate to the given events?(eg. occurrence for
sales; completeness...)

What is the risk of material misstatement?

What is the Specific audit procedure that you should take?

Reference no: EM13139777

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