Auditaudit Staff asked 4 years ago
1 Answers
Adminadmin answered 4 years ago

I have explained it in core audit process video also in SA 315, chances of misstatement in transaction or balance because of nature of business and management.

for example there are chances diamond valuation goes wrong in jewellery business.

there are chances that stock and cash is misappropriated (stolen) in retail business.

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