Audit Risk basically represents the risk that the auditor would wrongly conclude that the financial statements are?
آڈٹ رسک بنیادی طور پر اس خطرے کی نمائندگی کرتا ہے کہ آڈیٹر غلط طور پر یہ نتیجہ اخذ کرے گا کہ مالی بیانات ہیں؟
Answer: Both A & B
Explanation
Audit Risk is the combination of the following 3 risks:
1. Control Risk
2. Detection Risk
3. Inherent Risk
This question appeared in
Past Papers (2 times)
Controller General Of Accounts Jobs, Past Papers, Syllabus (1 times)
Junior Auditor Past Papers and Syllabus (1 times)
This question appeared in
Subjects (1 times)
ACCOUNTING (1 times)
Related MCQs
- Audit Risk is the combination of_____?
- Which situation indicates an internal control risk in the general ledger/Financial reporting system (GL/FRS)?
- "Regular exercise has been shown to improve overall health by reducing the risk of chronic diseases, such as heart disease and diabetes. Additionally, exercise enhances mental well-being by reducing stress, anxiety, and depression. Despite these benefits, many people find it challenging to maintain a consistent exercise routine due to busy schedules and a lack of motivation." Based on the paragraph, which of the following statements can be inferred?
- _______ is the phase of an audit where the auditor gathers samples to identify any material misstatements in the client’s accounting records or other data.
- The opinion in an auditor’s report is about attesting that the financial statement are __?
- Unsystematic risk is also known as:
- Which among the following is top risk for Pakistan?
- Qualified auditor, in different companies will give the opinion on financial statement :
- Which of the following s the risk factor for preeclampsia:
- Inherent Risk is fundamentally?
