ACC 490 Week 3 Assessing Materiality and Risk Simulation Learning Team Assignment – Assessing Materiality and Risk Simulation Resources: Assessing Materiality and Risk simulation on student website Complete the Assessing Materiality and Risk simulation located on the student website. Prepare a 350-word response to following questions after completing the simulation: â€¢ Why do certain accounts have to be audited 100%? â€¢ Why is materiality allocated only to those accounts that are sampled? â€¢ Is any component of audit risk within the control of the auditor? Explain. â€¢ How are the three risks that make up audit risk inter-related?
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