Multiple Choice
The two major factors affecting acceptable audit risk are
A) inherent risk and the intended uses of the financial statements.
B) control risk and the intended uses of the financial statements.
C) the likely statement users and their intended uses of the statements.
D) the audit firm and the intended uses of the statements.
Correct Answer:
Verified
Correct Answer:
Verified
Q34: The auditor's preliminary judgment about materiality is
Q35: When determining materiality,<br>A) the preliminary judgment about
Q36: Determining materiality requires professional judgment.
Q37: Specialists may be employed by the client,
Q38: The burden of initiating communication with the
Q40: A measure of how willing the auditor
Q41: If an auditor establishes a relatively high
Q42: When selecting staff for the audit engagement,<br>A)
Q43: Operations are approaches followed by the entity
Q44: Assessing acceptable audit risk, client business risk,