Multiple Choice
Which of the following would not be an important factor in understanding an entity's industry, regulatory environment and other external factors?
A) The competitive environment.
B) The political environment.
C) Relevant accounting pronouncements.
D) Technological developments.
E) The nature of the entity.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Substantive tests provide evidence as to the
Q2: The auditor might approach unaudited information showing
Q3: When sampling is used, the auditors must
Q4: Many elements of financial statements involve accounting
Q6: The professional standards identify five categories of
Q7: Which of the following statements about understanding
Q8: Determining whether amounts are in conformity with
Q9: For a particular assertion, control risk is
Q10: An understanding of the business and industry
Q11: The audit has value because an audit