Addressing Risk Associated with Toy Central Corporation

Business risk and audit risk are aspects of business that may affect the success of the business. The risk that affects the organizations depends on the various factors that surround the organization. Business risk refers to the probability that the business will suffer loss when carrying out the normal business operations. On the other hand, audit risk is the probability that the auditor will issue an unqualified opinion in situations where the financial statements of the organizations have been materially misstated. These risks come as a result of various factors and have some adverse impacts on the business operations. Therefore, it is very important that business determine the most appropriate approaches to……..

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