RMM: Audit risk= RMM*Detection risk
RMM= Inherent risk *Control risk
Misstatement: difference btw accounting standard vs non-standard.
Difference:
a. Amount
b. Disclosure in the notes of FS
c. Classification
d.Presentation
Evaluate: (1) issues/events (2) standards/IFRS (3) Case (4) Risks (5) Material