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✨ EY Prep 🩷
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Audit
🟢 Easy
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What is 'inherent risk' in the audit risk model?
A.
The risk that the auditor's procedures fail to detect a misstatement
B.
The risk of misstatement in an account balance, ignoring any related controls
C.
The risk that management overrides internal controls
D.
The risk that the audit firm loses the client