Multiple Choice
Theoretically,when assessing the inherent risk related to an account balance,an auditor does not explicitly consider the ________.
A) susceptibility of the account to theft
B) management estimates involved in determining the account balance
C) internal control policies and procedures
D) complexity of calculations involved
Correct Answer:
Verified
Correct Answer:
Verified
Q25: Explain the relationships among the business processes
Q26: Canadian auditing standards require an assessment of
Q27: The ultimate purpose of assessing control risk
Q28: An organization with a very hierarchical structure
Q29: Discuss four ways of managing risk in
Q31: An auditor considers two factors in understanding
Q32: The acceptable level of detection risk is
Q33: Auditors find it easier to audit related
Q34: Control testing procedures provide no direct evidence
Q35: Audit procedures designed to verify that overhead