Flood risk assessments focus on four main components. Flood hazardthe probability and magnitude eg.
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During the course of preparing or auditing year-end financial statements financial management or the registrants independent auditor becomes aware of misstatements in a registrants financial statements.
. When combined the misstatements result in a 4 overstatement of net income and a 02 4 overstatement. In the context of this report flood risk refers to the magnitude of economic flood loss and the probability that losses of that magnitude will occur.
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