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Risk of material misstatement

answered on 06-Jul-20

Meaning of inherent risk

latest answer

Inherent risk is the possibility of incorrect or misleading information due to omission or error in accounting statements resulting from something other than the failure of controls. It is most likely to occur when transactions are complex, or in situations that require a high degree of judgment in regard to financial estimates. Audit risk = Control risk + Detection risk + Inherent risk. Control risk is due to lack or failure of internal controls (Frauds), this can be avoided by placing proper internal controls. Detection risk is when auditor fails to detect errors in financial statements, it can be countered by increasing testing. Inherent risk can't be easily avoided through increased auditor training or creating controls in the auditing process.

Arpita  bansal

Arpita bansal

CA Inter

3K+

1

164

Wishes

answered on 05-Jul-20

Happy Guru Purnima sir, I have taken Eis classes and I wish all the faculty here a very happy Guru purnima.

latest answer

Thanks a lot Usha. Appreciate it

Usha V C

Usha V C

CA Inter

11K+

1

132

Registeration of Charge

answered on 06-Jul-20

Ma'am if assume in section 78 the charger holder registers the charger and the company has objections and company agains pays the fees will the registrar return the fees to the charger-holder? Or will the company pay back the fees to the charger holder if the fees is setoff for the fees paid by charge holder?

latest answer

Sorry for charger - charge holder

aman kawad

aman kawad

CA Inter

7K+

2

156

Ratios

answered on 16-Jul-20

Sir pls answer this

latest answer

Please share the workings so that we can help you.

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Inter

11K+

7

155

Ratios

answered on 07-Jul-20

Explain this two properties

latest answer

I want ex for second property

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Inter

11K+

5

96

Permutations

answered on 06-Jul-20

I think option b is correct

latest answer

Option C is correct and the MCQ has been update and uploaded.

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Inter

11K+

5

126

Course extension

answered on 07-Jul-20

Up to when course will be extended if opted for AUg20

latest answer

Yes

Kondamuri Sai Sindhoori

Kondamuri Sai Sindhoori

CA Inter

3K+

5

138

Acceptance of Deposit

answered on 05-Jul-20

Maam as per the law the acceptance of deposit from a private company can not be treated as a deposit of the documents are placed that the amount so invested is not borrowed But the answer states it differently

latest answer

Thank you ma'am

aman kawad

aman kawad

CA Inter

7K+

10

116

Ratios

answered on 06-Jul-20

Sir I think option d is correct

latest answer

Duplicate of ratio 3:4= 9:16 Triplicate ratio of 2:3= 8:27 Now we have 4 ratios, i.e., 4/9 ;9/16; 8/27 and 9/7 Compounded ratio of these ratios = 4/9 Ã? 9/16 Ã? 8/27 Ã? 9/7 = 2:21â??

Prasanth kumar Kamisetty

Prasanth kumar Kamisetty

CA Inter

11K+

4

100

Can't download the videos

answered on 05-Jul-20

Sir,I have problems with downloading videos,I can't download them,They are just saying downloading,But it won't download,Why is this?

latest answer

pls send screen shot to support@indigolearn.com and we shall resolve it

Asim Saif

Asim Saif

CA Inter

5K+

1

211

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