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What is meant by âlowering detection riskâ in auditing? A practitioner (or simply auditor) performing audit engagement is required to reduce audit risk to such level that is suitable to provide reasonable assurance to the intended users.
Detection risk is. a function of the effectiveness of an audit procedure and of its application by. the auditor. Detection risk cannot be reduced to zero because the auditor does. not examine 100 percent of an account balance or a class of transactions and. because of other factors.