A measure of how willing the auditor is to accept that the financial statements may be materially misstated after the audit is completed and an unqualified opinion has been issued is the acceptable audit risk.
Auditors examine organisations' monetary accounts to make sure they are correct and fits the law. Auditors review the accounts of corporations and different organisations to make sure their monetary records are correct and in line with the law.
Acceptable audit risk is that the risk that the auditor is willing to require of giving An unqualified opinion once the monetary statements are materially misstated. As acceptable audit risk will increase, the auditor is willing to gather less proof (inverse) and thus settle for the next detection risk.
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