When the auditor concludes that audit risk is at an acceptable level, he or she can proceed to formulate the opinion supported by the findings.

Question

Quizplus · Accepted Answer

When the auditor assesses that the audit risk is at an acceptable level, it means that the risk of forming an incorrect opinion on the financial statements is low enough to proceed with formulating an audit opinion based on the evidence gathered during the audit.

When the Auditor Concludes That Audit Risk Is at an Acceptable