Question details

To decrease detection risk the auditor changes the nature, timing and
$ 15.00

Page:of 12

 

 

                                             Automatic Zoom                                             Actual Size                                             Page Fit                                             Page Width                                                                                          50%                                             75%                                             100%                                             125%                                             150%                                             200%                                             300%                                             400%                                         

 

 

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.

 

Available solutions