Audit risk is avoidable, as long as the auditor performs the audit in accordance with auditing standards.

Question

Quizplus · Accepted Answer

Audit risk cannot be completely avoided even with the best adherence to auditing standards because there is always a possibility of material misstatements or fraud not being detected during the audit. However, the use of appropriate audit procedures and techniques can help to reduce the level of audit risk to an acceptable level.

Audit Risk Is Avoidable, as Long as the Auditor Performs