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State about the Detection risk
This is the risk that auditors 'substantive procedures don't detect a material misstatement in an account balance or class of transactions. It is mainly the consequence of the fact that auditors don't, and can't, examine all available evidence.
Having assessed inherent risk and control risk, detection risk is then balancing figure set to achieve an acceptable total audit risk.
Advantages of Private Mutual Funds It is felt that the entry of private Mutual Funds would encourage competitiveness in the financial sector and promote the existing investment
(a) These are merely the differences of the two prices. Consequently the mark to market losses are given by { Q 1 - Q 0 ,Q 2 - Q 0 ,Q 3 - Q 0 ,Q 4 - Q
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What is the Tolerable error In addition to looking at material differences individually the auditor must list all the differences (material or not) and consider in total wheth
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