Multiple Choice
Professional standards recognize that a misstatement that is quantitatively immaterial may be qualitatively material. In regard to these items, professional standards require the auditor to:
A) plan the audit to search for them.
B) design explicit procedures to detect them.
C) be on the alert for them.
D) report them to the audit committee.
E) report them directly to client management.
Correct Answer:

Verified
Correct Answer:
Verified
Q11: The primary reason for performing analytic procedures
Q12: Quantitative guidelines for setting materiality levels are
Q13: The allocation of the preliminary estimate of
Q14: Materiality should be allocated to the various
Q15: In a normal audit, the relationship between
Q17: Analytical procedures often provide the auditor with
Q18: Which of the following is not a
Q19: In making judgments about materiality at the
Q20: In making a preliminary judgments about materiality,
Q21: Analytical procedures are defined as "evaluations of