The concept of audit risk is the inverse of the concept of reasonable assurance.

Name: The concept of audit risk is the inverse of the concept of reasonable assurance.
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Question

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Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. Reasonable assurance is aimed at reducing audit risk to an acceptably low level, not eliminating it, thus they are inversely related concepts.

The Concept of Audit Risk Is the Inverse of the Concept