Asignificant riskis an identified and assessed risk of material misstatement that, in the auditor's judgment,...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Asignificant riskis an identified and assessed risk of material misstatement that, in the auditor's judgment, requires special audit consideration. Which of the following would be classified as a significant risk?
A risk related to a significant economic or accounting development.
A risk related to transactions for a simple operating lease, like you sign when you rent an apartment.
A risk that does not involve a related party transaction.
A risk related to a transaction that involves a recording error, but was not intentional, like a fraud.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
