Several catastrophic accounting failures have occurred over the last few years.Although the details of each failure is different,each case stems from attempts to manage earnings and thus all of these failures have common elements.
One of the elements identified in these earnings management meltdowns is the auditor's calculated risk.
Explain what is meant by the term "the auditor's calculated risk".

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The Answer of Several catastrophic accounting failures have occurred over the last few years.Although the details of each failure is different,each case stems from attempts to manage earnings and thus all of these failures have common elements.
One of the elements identified in these earnings management meltdowns is the auditor's calculated risk.
Explain what is meant by the term "the auditor's calculated risk".

Several Catastrophic Accounting Failures Have Occurred Over the Last Few