True/False
A planned detection risk (PDR) of .05 means the auditor plans to accumulate audit evidence until the risk of misstatement exceeding performance materiality is reduced to 5 percent.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q50: Risk assessment procedures include inquiries of management
Q51: Inherent risk and control risk exist independent
Q52: Describe the audit risk model and each
Q53: In assessing management integrity for potential new
Q54: Auditors begin their assessments of inherent risk
Q56: Planned detection risk I. determines the amount
Q57: When assessing risk, it is important to
Q58: An auditor who audits a business cycle
Q59: When dealing with audit risk,<br>A) auditors cannot
Q60: Since the audit risk model is a