Multiple Choice
When there is a significant risk that an account will be misstated and the client's system of internal controls is not considered effective at reducing that risk:
A) more high quality evidence is gathered when conducting substantive tests
B) detection risk is set as low
C) detection risk is set as high
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Describe the major evidence gathering procedures most
Q5: Completeness is an assertion used:<br>A)for presentation and
Q6: The first stage when an auditor considers
Q7: The greater the risk of material misstatement
Q8: External confirmations can be sent to:<br>A)third parties
Q10: The cut-off assertion means that the entity
Q11: Audit evidence is the information that an
Q12: Which of the following statements regarding using
Q13: Audit evidence is the information that an
Q14: Which of the following is not an