Solved

If an Auditor Assigns a Tolerable Misstatement of $1,000 to Accounts

Question 45

True/False

If an auditor assigns a tolerable misstatement of $1,000 to accounts payable, he or she would need to obtain more audit evidence for that account than if $100,000 had been assigned.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

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,

Q46: The risk of material misstatement is a

Q47: A public company must disclose if the

Q48: Most auditors assess the risk of material

Q49: The lower the dollar amount of the

Q50: The auditor determines that Matthews Company occupies