Multiple Choice
Why might an auditor use sampling?
A) Because testing and entire accounting system is impractical and unnecessary.
B) Because the client has not paid for full testing of the financial statements.
C) The auditor deems that there is no fraud in a certain area of the business.
D) The auditor deems that there is fraud in a certain area of a business.
Correct Answer:
Verified
Correct Answer:
Verified
Q23: An error or omission is considered to
Q24: What is materiality and why is it
Q25: A tolerable misstatement is:<br>A) A percentage threshold,
Q26: Auditing is the process of:<br>A) Developing internal
Q27: Beyond publishing findings of internal controls, fraud
Q29: How are acceptable audit risk and acceptable
Q30: Describe what rule making bodies are and
Q31: The Public Company Accounting Oversight Board has
Q32: When auditors are judging materiality, they are
Q33: In what year was the Securities and