Explain the circumstances when the auditor should revise the components of the audit risk model and the

Question:

Explain the circumstances when the auditor should revise the components of the audit risk model and the effect of the revisions on planned detection risk and planned evidence.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing and Assurance services an integrated approach

ISBN: 978-0132575959

14th Edition

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

See More Books

Question Posted: Oct 10, 2012 07:24 AM

See More Questions

Which of the following components of the audit risk model is most closely associated with attributes sampling? a. Audit risk. b. Control risk. c. Detection risk. d. Inherent risk.
Express Comfy Co. operates an airline business since a few years ago. The companys year-end is 31 December of each year. You are the Engagement partner in charge and you have started planning the...
Distinguish between the circumstances when an auditor might give an unqualified opinion with an explanatory paragraph, a qualified opinion, and an adverse opinion. Do you think a disclaimer is an...
Find all conjugates in C of the given number over the given field. 1+2 over Q
In each case either prove the statement or give an example showing that it is false: (a) If A is invertible and adj A = A-1, then det A = 1. (b) If det A 0 and AB = AC, then B = C. (c) If adj A = 0,...
Why do you suppose dry tropical forest and tundra are well represented in protected areas, while grasslands and wetlands are protected relatively rarely? Consider social, cultural, geographic, and...
For each of the following situations, calculate the $t$-statistic $(t)$ : a. $\mathrm{X}^{-}=20.00 ; \mu=18 ; s \mathrm{X}^{-}=1.00$ b. $X^{-}=20.00 ; \mu=13 ; s X^{-}=1.00$ c. \(X^{-}=12.00...
Kelvin owns and lives in a duplex. He rents the other unit for $750 per month. He incurs the following expenses during the current year for the entire property: Mortgage interest $7,500 Property...
The list below is a list of how many doses of a pain medication patients take in a hospital. Construct the histogram starting at -.5 and a class width of 20. 16 44 7 25 66 16 19 18 28 0 24 38 6 17 55...
Bonds 1. Municipal Bonds - Municipal bonds are haircut per Exhibit 1 based on both their time to maturity and scheduled maturity at date of issue. 2. Corporate Bonds - Corporate bonds are haircut...
Auditors have not been successful in measuring the components of the audit risk model. How is it possible to use the model in a meaningful way without a precise way of measuring the risk?
Multiple Choice Questions The following questions deal with materiality. Choose the best response. a. Which one of the following statements is correct concerning the concept of materiality? (1)...
1. Is this dialog a logical or a physical model? Could it be a phone registration system? Could a clerk at a desk handle the dialog manually? Discuss. 2. Discuss how well this dialog follows the...
What are the potential evolutionary advantages and disadvantages associated with mutational processes?
Who gets the scarce resources in a market economy? to. Government b. Whoever the government decides gets them C. Whoever wants them d. Whoever wants and can pay the price
How do mutational hotspots influence genetic variability in populations?
e...How do negative feedback loops contribute to the maintenance of homeostasis, and what molecular mechanisms underlie their regulation?
How does the concept of "set points" in homeostatic regulation account for individual variation and adaptation to changing environmental conditions?
What is the difference between RMI and Socket?
Anne is employed by Bradley Contracting Company. Bradley has a $1.3 million contract to build a small group of outbuildings in a national park. Anne alleges that Bradley Contracting has discriminated...
Explain why it is important to pre-test survey questionnaires as part of a pilot study.
Provide two examples of analytical procedures that could indicate a possible misstatement in accounts payable.
Hans & Co. LLP is auditing CCC Inc.s 2018 financial statements. The firm previously audited the companys 2016 and 2017 financial statements. The 2016 audit resulted in a qualified opinion because the...
It is October 21, 2018, and you, an audit manager at E&N LLP, are in charge of reviewing the audit engagement file of Eye in the Sky Inc., which has a yearend of July 31, 2018. Today you will be...
QS) Simon and Sandra Soh are no different from many young families who are concerned with their finances. In their fact-finding form, they have emphasised the two most important financial goals to...
Write down everything you have eaten over a 48 hour time period. Follow the chart below. Date: Times: Breakfast Lunch Dinner Snacks Date: Times: Breakfast Lunch Dinner Snacks
Drawing on the knowledge gained in your EVA course, employ relative valuation methods to value any ONE of the given stocks using the data provided in the Assignment Data file. Assume 5% as the...

Explain the circumstances when the auditor should revise the components of the audit risk model and the

Question:

Step by Step Answer:

The auditor should revise the components of the audit risk ...View the full answer

Auditing and Assurance services an integrated approach

Students also viewed these Auditing questions