Multiple Choice
The risk that an auditor's procedures will lead to the conclusion that a material error does not exist in an account balance when,in fact,such error does exist is referred to as
A) acceptable audit risk.
B) inherent risk.
C) control risk.
D) planned detection risk.
Correct Answer:
Verified
Correct Answer:
Verified
Q38: Below are four situations that involve the
Q39: List the audit procedures outlined in CAS
Q40: Acceptable audit risk is ordinarily set by
Q41: In practice,auditors rarely assign numerical probabilities to
Q42: What is a nonroutine transaction,and give two
Q44: When inherent risk is assessed as higher
Q45: In addition to representing an assessment of
Q46: Significant risk often relates to<br>A)low-dollar-value transactions.<br>B)simple transactions.<br>C)routine
Q47: An important role of inherent risk assessment
Q48: Which of the following describes the components