+
ACC 410 QUIZ 4 CHAPTER 9

ACC 410 QUIZ 4 CHAPTER 9

Rating:
Rating
(0)
Author: Christine Farr
Description:

http://theperfecthomework.com/acc-410-quiz-4-chapter-9/

If planned detection risk is reduced, the amount of evidence the auditor accumulates will:

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:

Auditing standards ________ that the basis used to determine the preliminary judgment about materiality be documented in the audit files.

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:

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

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

The risk that audit evidence for a segment will fail to detect misstatements exceeding performance materiality levels is:

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

If an auditor believes the chance of financial failure is high and there is a corresponding increase in business risk for the auditor, acceptable audit risk would likely:

When dealing with audit risk:

The measurement of the auditor's assessment of the likelihood that there are material misstatements due to error or fraud in a segment before considering the effectiveness of internal controls is defined as:

Why do auditors establish a preliminary judgment about materiality?

Auditors are ________ to document the known and likely misstatements in the financial statements under audit.

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:


(more)
See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

25 Sophia partners guarantee credit transfer.

221 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 20 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Tutorial