Business
Business, 12.11.2019 04:31, Lizethh1

Assume that the auditor sets audit risk at a low level, equal to 1%. what is the appropriate interpretation of this level of audit risk? a. the auditor is willing to take only a 1% chance that audit procedures will not detect a material misstatement. b. the auditor is 99% confident that the audit procedures will detect a material misstatement. c. the auditor is willing to take only a 1% chance of expressing an audit opinion that the financial statements are fairly presented when they are materially misstated. d. the auditor is 99% confident that the audit opinion is correct.

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