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Query Details

Asked by Chiranjibi on :Feb. 07, 2018

There is no relation between Inherent risk, Contr…

There is no relation between Inherent risk, Control risk and Detection risk. Is it correct to say?

There is no relation between Inherent risk, Control risk and Detection risk. Is it correct to say?

0

Jeeba Aug. 13, 2018

This statement is not correct.

There is an inverse relationship between detection risks and the combined level of inherent and control risks.

When inherent and control risks are high, acceptable detection risk needs to be low to reduce audit risk to an acceptably low level.

When inherent and control risks are low, an auditor can accept a higher detection risk and still reduce audit risks to an acceptably low level.

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Harassing: Disrespectful or rude towards a person or a group. Spam: Promotes an undisclosed link or product or service. Ingenuine: Not seeking genuine answers. Rotten: Vulgar, Obscene, abusive etc... Alien: Not a post on law or business. Plagiarism: Copied from other website or source and pasted here. Unformatted: Has bad format, grammar, spelling so requires moderatation.

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