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To decrease detection risk the auditor changes the nature, timing and

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Question 1

1 out of 1 points

Which of the

following is not a

financial assertion

made by

management?

Answer

Correct Answer:

Question 2

1 out of 1 points

Which of the

following is not a

valid purpose of

the representation

letter?

Answer

Correct Answer:

Question 3

1 out of 1 points

Of the following,

which is the least

persuasive type of

audit evidence?

Answer

Correct Answer:

Question 4

1 out of 1 points

 

 

 

Analytical

procedures are

most likely to

detect:

Answer

Correct Answer:

Question 5

1 out of 1 points

Which of the

following is not an

approach to

auditing an

accounting

estimate?

Answer

Correct Answer:

Confirm the

amounts.

Response

Feedback:

Question 6

1 out of 1 points

In regard to the

auditor using the

work of a

specialist, which

of the following is

false?

Answer

Correct Answer:

Response

Feedback:

 

 

Question 7

1 out of 1 points

The relationship

between audit risk

(AR) , inherent

risk (IR), control

risk (CR) and

detection risk

(DR) may be best

expressed by:

Answer

Correct

Answer:

AR = IR x CR

x DR.

Question 8

1 out of 1 points

In order to

decrease detection

risk (when you

decrease detection

risk you actually

increase the odds

that you will

detect a material

misstatement),

risk the auditor

may do all except:

Answer

Correct Answer:

Response

Feedback:

To decrease detection risk the auditor changes the nature, timing and

extent of his audit testing.

Nature = To decrease detection risk he will do more complex testing.

Timing = To decrease detection risk he will do more testing at year

end rather than in the interim periods.

Extent = To decrease detection risk he will increase the quantity of

testing.

 

 

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[Solved] To decrease detection risk the auditor changes the nature, timing and

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Which of the following is not a financial assertion made by management? Answer ...
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