What is meant by acceptable risk of incorrect acceptance, Auditing

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What is meant by acceptable risk of incorrect acceptance

Response to the following questions:

1. Explain how the auditor determines tolerable misstatement for MUS.

2. Explain what is meant by acceptable risk of incorrect acceptance. What are the major audit factors affecting ARIA?

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

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Auditing: What is meant by acceptable risk of incorrect acceptance

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Auditing: What is meant by acceptable risk of incorrect acceptance

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