Detection risk is affected by sampling and non-sampling risk. Type the following paragraphs into the word processing sheet:Īuditor’s risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated.Īuditor’s risk is a function of two main components being the risks of material misstatement and detection risk.ĭetection is the risk that the procedures performed by the auditor to reduce the auditor’s risk to an acceptably low level will not detect a misstatement that exists and which could be material, either individually or when aggregated with other misstatements. Audit risk has been incorrectly referred to as auditor’s risk throughout, perform a ‘find and replace to correct this error.Insert bullet points to create a numbered list against the risk of material misstatement and inherent risk in the first paragraph.Insert a heading above paragraph three – Detection risk – and make the heading bold and centre.Insert a heading above paragraph two – Risks of material misstatement – and make the heading bold and centre.
Search for the word “document” using the find option.Highlight “Microsoft Word is a word processor developed by Microsoft.”.Select some part of your document of PRACTICAL -1 and copy it to the new file created in bullet 1.Create a new file using the new option.Take a printout of this document through the print option.View the file you have created using the print preview option.Open this file again using the open option from the office button.Edit some part of your document and save again using save option.Save this file as ms-word.doc in “my documents” folder using the save as option.Alignment to your paragraph to the right margin.Change the font type to “Lucida Calligraphy” and size to 14.Type the paragraph above as it is using “Calibri font”, font size 12.Step By Step Word Processing Exercise Practical: 1
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