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ACC 403 QUIZ 4 CHAPTER 9

ACC 403 QUIZ 4 CHAPTER 9

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Author: Christine Farr
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The preliminary judgment about materiality and the amount of audit evidence accumulated are ________ related.

Auditors generally allocate the preliminary judgment about materiality to the:

If an auditor establishes a relatively high level for materiality, then the auditor will:

Auditors frequently refer to the terms audit assurance, overall assurance, and level of assurance to refer to ________.

Auditors typically rely on internal controls of their private company clients:

Why do auditors establish a preliminary judgment about materiality?

Inherent risk and control risk:

As the risk of material misstatement increases, detection risk should:

When management has an adequate level of integrity for the auditor to accept the engagement but cannot be regarded as completely honest in all dealings, auditors normally:

As the acceptable level of detection risk increases, an auditor may change the:

When the auditor is attempting to determine the extent to which external users rely on a client's financial statements, they may consider several factors except for:

When auditors allocate the preliminary judgment about materiality to account balances, the materiality allocated to any given account balance is referred to as:

If it is probable that the judgment of a reasonable person will be changed or influenced by the omission or misstatement of information, then that information is, by definition of FASB Statement No. 2:

When taken together, the concepts of risk and materiality in auditing:

Inherent risk is ________ related to detection risk and ________ related to the amount of audit evidence.


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