Meaning of audit risk

Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Audit risk is the function of the risk of material misstatement and detection risk.



2 thoughts on “Meaning of audit risk”

  1. Pingback: 3 qualities of good audit evidence. - ACCOUNTING CLASS

  2. Pingback: Objectives of a reasonable assurance engagement. - ACCOUNTING CLASS

Leave a Comment

Your email address will not be published. Required fields are marked *

%d bloggers like this: