ATTESTATION RISK Definition

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ATTESTATION RISK is the risk the CPA may unknowingly fail to modify the report
on management’s assertion. It is composed of inherent risk, control risk, and detection risk.

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INVENTORY TAG is a tag attached to inventory items that identifies the inventory items to aid in counting the physical inventory.

DISCREPANCY is a difference between conflicting facts or claims or opinions. In import / export, it is situations relating to official documents that are presented that do not conform to what is required within the Letter of Credit.

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