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Your audit client has many different types of accounts receivable: Canadian, American, and other ...

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Your audit client has many different types of accounts receivable: Canadian, American, and other ...

Your audit client has many different types of accounts receivable: Canadian, American, and other international accounts, short term and long-term. There are also some sales on consignment. The company has used forward exchange contracts to reduce its exposure due to foreign exchange fluctuations. How will this affect the audit engagement?
A) control risk will increase
B) inherent risks of error will decrease
C) risk of material misstatement increases
D) audit risk will be increased

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Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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Auditing: The Art and Science of Assurance Engagements, Twelfth Canadian Edition, 12/E (Arens, Elder, Beasley, Splettstoesser)

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