Define audit risk and materiality


Response to the following questions:

1. Define auditing, attest, and assurance services.

2. The Committee on Basic Auditing Concepts has provided a widely cited definition of auditing. What does the phrase "systematic process" mean in this definition?

3. Define audit risk and materiality. How are these concepts reflected in the auditor's report?

If possible, please give examples to better understand your answers.

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Auditing: Define audit risk and materiality
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