Audit risk is the probability that an auditor will give an inappropriate opinion on financial statements.

Name: Audit risk is the probability that an auditor will give an inappropriate opinion on financial statements.
Brand: Quizplus
Rating: 4.8 (38 reviews)

Question

Quizplus · Accepted Answer

Audit risk is defined as the risk that an auditor may unknowingly fail to appropriately modify their opinion on financial statements that are materially misstated. It is a term used to indicate the risk of giving an inappropriate opinion or conclusion on the financial statements.

Audit Risk Is the Probability That an Auditor Will Give