Account balance - inherent risk, Financial Management

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Account balance - Inherent risk

At account balance / class of transaction level

Balances susceptible to misstatement.
History of errors.
Complexity of transactions.
Degree of judgement involved in determining account balances.
Susceptibility of assets to loss or misappropriation.
The quality of accounting systems.
Unusual or complex transactions at year end.
Transactions not subject to normal processing.

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