If Inherent and Control Risk are high, Can auditor accept detection risk at high level as well?

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What is the difference between detection and control risk?
Posted by:
Aliasgar Kapasi
30-August-2014

Question ajoutée par Kamran Anjum , Head of Internal Audit , Rafhan Maize Products Company limited, Faisalabad, Pakistan, Ingredion Incorporated Gmbh
Date de publication: 2014/04/01

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par M. Omair Afridi , Manager Finance , TM Group of Hotels

If inherent risk and control risks are high, the auditor should keep detection risk at as minimum level as possible. Detection risk can be minimized by relying more on substantive procedures (test of details) and keeping materiality as well as performance materiality at low level.

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