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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.
Let us express the process of calculating approximate percentage price change for a given change in yield and a given duration using the following formula:
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Solutions to shareholders and government agency problemquestion #Minimum 100 words accepted#
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