Multiple Choice
The acceptable level of detection risk is inversely related to the
A) Assurance provided by substantive tests.
B) Risk of misapplying auditing procedures.
C) Preliminary judgment about materiality levels.
D) Risk of failing to discover material misstatements.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Generally accepted auditing standards permit auditors to
Q26: A critical element of control is monitoring.
Q28: An organization with a very hierarchical structure
Q32: An auditor considers two factors in understanding
Q33: The existence of audit risk is recognized
Q34: On the basis of audit evidence gathered
Q38: The business process view also highlights the
Q41: Risk should not be tolerated on a
Q42: Since management is most familiar with an
Q50: Company-level controls can have a big impact