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Which represents a risk of financial misstatement

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Reference no: EM132783175

Problem 1: Which of following threats to independence occurs when an auditor help a client to negotiate a loan with a bank?

A. integrity threat
B. there is no threat to audit independence from this activity
C. advocacy threat
D. self-interest threat

Problem 2: Which of the following represents a risk of financial misstatement at the financial report level?

A. The client has recently signed a contract with an engineering company to commence work on a new technologically advanced manufacturing machine.
B. The client has recently replaced the entire accounting department following mass resignation of staff in the department.

Reference no: EM132783175

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