Multiple Choice
The auditors assessed risk of material misstatement at 0.50 and said they wanted to achieve a 0.05 risk of failing to express a correct opinion on financial statements that were materially misstated.What detection risk do the auditors plan to use for planning the remainder of the audit work?
A) 0.20.
B) 0.10.
C) 0.75.
D) 0.00.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: Which of the following would not likely
Q37: The probability that audit procedures will fail
Q38: The probability that an audit team will
Q39: Managing business risk is the responsibility of<br>A)
Q40: Auditors use brainstorming<br>A) To heighten the audit
Q41: Independent auditors who consider fraud in the
Q43: The nature of extended procedures for fraud
Q44: The likelihood that material misstatements may have
Q45: Under the Private Securities Litigation Reform Act,independent
Q47: Horizontal analysis refers to<br>A) The trend of