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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.
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return risk and security market line /net present value and investment critirea actually iwill be tested in 6 question culculation and 1 question theory about risks
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