Audit Risk basically represents the risk that the auditor would wrongly conclude that the financial statements are?
آڈٹ رسک بنیادی طور پر اس خطرے کی نمائندگی کرتا ہے کہ آڈیٹر غلط طور پر یہ نتیجہ اخذ کرے گا کہ مالی بیانات ہیں؟
- Free from material error whereas material is present
- Not free from material error whereas material error is not present
- Both A & B
- None of these
Explanation
Audit Risk is the combination of the following 3 risks:
1. Control Risk
2. Detection Risk
3. Inherent Risk
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