Multiple Choice
If the total projected error in an account balance was $3 248 and the tolerable error was set at $10 000,the auditor would:
A) decide that further audit work was required
B) conclude that the errors detected are not material
C) conclude that the errors uncovered are material
D) conduct other tests aimed at the assertion being tested
Correct Answer:
Verified
Correct Answer:
Verified
Q16: Why do auditors inspect records and documents?<br>A)For
Q17: An auditor uses their professional judgement when
Q18: When testing controls,non-sampling risk is the risk
Q19: What impact will there be on sample
Q20: When auditors conclude that an internal control
Q22: The risk that the auditor concludes that
Q23: An account is at a higher risk
Q24: Tolerable error is the minimum error an
Q25: When conducting an audit,statistical sampling involves<br>A)calculated selections
Q26: When testing controls,the tolerable error is:<br>A)the minimum