Multiple Choice
Auditors want a low audit risk of 5% and a low detection risk of 5%.In order to achieve this, what will inherent risk and control risk have to be?
A) 100% for both
B) 1% for inherent risk and 100% for control risk
C) 1% for both
D) The risks cannot be determined because there is not enough information.
Correct Answer:
Verified
Correct Answer:
Verified
Q13: During which phase or phases of the
Q14: Which of the following are true in
Q15: Which of the following is an amount
Q16: Audit risk is best defined as the
Q17: Typically, which of the following are income
Q19: AU-C 200.A22, Overall Objectives of the Independent
Q20: A pressure on auditors to maintain good
Q21: Misstatements that impact a user's decision-making process
Q22: AU-C 200.A22, Overall Objectives of the Independent
Q23: In the context of identifying fraud, which