Anderson, Olds, and Watershed (AOW) assessed Apollo’s risk at the…

Anderson, Olds, and Watershed (AOW) assessed Apollo’s risk at the financial statement level.
4-1 Question. What is the difference between financial statement level risk and assertion level risk (see instructions)?
Instructions: Using two or more of the AU-C sections attached, research the assigned 4-1 question and provide a brief summation of your research; please include the section identification (example – 200.01) of the standards. Post your summation in the discussion thread 4-1 Seminar (Class Meeting).
Attachments emailed (See Canvas email)
• AU-C Section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards
• AU-C Section 315, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement
• AU-C Section 320, Materiality in Planning and Performing an Audit