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Audit Strategy & Programming

Quick practice

Question 1 of 5

Which of the following statement is correct?

A

SA 315 has a purpose to establish standards to form procedures to be followed to have an understanding of the entity and its environment.

B

Inherent and Control Risk, and detection risk have same meaning.

C

Risk of material misstatement may be defined as the risk that the financial statements are materially misstated subsequent to audit.

D

Internal control can provide absolute assurance.

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