Which of the following risks results when the auditor uses an insufficient test procedure, resulting in the auditor's ill-informed conclusion that material errors do not exist, when, in fact, they do?

A. Business risk
B. Detection risk
C. Audit risk
D. Inherent risk

Answer: B. Detection risk

Business

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Calculating the present value of a future amount is called

A) interpolating. B) discounting. C) compounding. D) regression analysis.

Business

The Eurocurrency market is a market for short-term bank deposits denominated in U.S. dollars or other easily convertible currencies

Indicate whether the statement is true or false

Business