Respond to the following: Examine the concept of materiality, including its impact on audits. Compare and contrast the different types of audit risk….

Respond to the following:Examine the concept of materiality, including its impact on audits.Compare and contrast the different types of audit risk. Determine the type of risk that you think is the least detrimental and the most detrimental. Defend your answer.Analyze the relationships of risks to evidence, including the factors influencing risks and how to mitigate those factors.

Materiality and its impact on auditsSTATEMENT OF AUDITING STANDARDS (SAS)220 talks about Audit Materiality. It states that while conducting anaudit an auditor should always keep in mind the…

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