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Chapter 4






                                                    Audit risk






                         Risk that the                                   Risk that the

                            financial                                  auditor fails to
                          statements
                                                                          detect any
                            contain a
                                                                            material
                             material
                        misstatement                                   misstatements












                  Inherent             Controls
                                                                        Detection risk
                      risk                 risk






























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