Why does the efficiency risk affect audit efficiency and the effectiveness risk affect audit effectiveness?
Question:
Why does the efficiency risk affect audit efficiency and the effectiveness risk affect audit effectiveness?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
Alpha risk results in unnecessary ...View the full answer
Answered By
Ayush Mishra
I am a certified online tutor, with more than 3 years of experience in online tutoring. My tutoring subjects include: Physics, Mathematics and Mechanical engineering. I have also been awarded as best tutor for year 2019 in my previous organisation. Being a Mechanical Engineer, I love to tell the application of the concepts of science and mathematics in the real world. This help students to develop interest and makes learning fun and easy. This in turn, automatically improves their grades in the subject. I teach students to get prepared for college entry level exam. I also use to teach undergraduate students and guide them through their career aim.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted:
Students also viewed these Business questions
-
Does political risk affect required returns?
-
Multiple Choice 1 Which of the following sampling methods would be used to estimate a numeric measurement of a population, such as a dollar value? a. Random sampling. b. Numeric sampling. c....
-
The PCAOB states that the auditor must perform enough of the testing of internal controls himself or herself so that it provides the principal evidence for the opinion on internal control. However,...
-
In Exercises evaluate the second derivative of the function at the given point. Use a computer algebra system to verify your result. (x) = cos x, (0, 1)
-
FADH2 reduces α.β-unsaturated thioesters to saturated thioesters. The reaction is thought to take place by a mechanism that involves radicals. Propose a mechanism for this...
-
What is the traditional role that IS plays in the supply chain? What is the contemporary role?
-
How many forms of main() are there?
-
Padillio Company had the following transactions involving notes payable. July 1, 2014 Borrows $60,000 from Fourth National Bank by signing a 9-month, 8% note. Nov. 1, 2014 Borrows $50,000 from...
-
TheOnlyWizKid, Montclair State University Download and connect to the raw data Market Caps of S_P500 Companies 2008-2015.xls on Canvas>Files> Tableau Data Files using Tableau. The Excel file lists...
-
A stock analyst wants to determine whether there is a difference in the mean return on equity for three types of stock: utility, retail, and banking stocks. The following output is obtained: a. Using...
-
Explain why control risk is inversely related to the risk of incorrect acceptance.
-
When auditing the clients performance of control for the completeness objective related to recording sales, auditors should draw sample items from which of the following? a. A sales journal list of...
-
Given a taxable income amount, express the tax table line that would be used in compound inequality notation. a. i = $60,124 b. i = $57,333 If line 43 (taxable Income) Is- At least But less than And...
-
A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a $33 fee for a two-week $200 payday loan (when you repay the loan, you pay $233)....
-
Define autocorrelation. Why is it more likely to occur with the use of time series data than with cross-sectional data?
-
Explain in one or two sentences the differences between the following terms: a. Type I and Type II errors b. Run chart and histogram c. Flowchart and fishbone diagram d. XY plot and Pareto chart
-
Which of the following conditions would you use if you needed to develop an industrial process to produce ethanol from acetylene? Explain. (a) 25C and 1 bar. (b) 250C and 1 bar. (c) 25C and 150 bar....
-
Explain the difference between an opportunity and an idea.
-
The Television Bureau of Advertising publishes a report titled TV Basics for the purpose of providing information to help advertisers make the most effective and efficient use of local and national...
-
Why is disclosure of depreciation or amortization methods and rates so important?
-
In test of controls auditing, why should auditors be more concerned with the risk of assessing the control risk too low than with that of assessing it too high?
-
When auditing account balances, why is an incorrect acceptance decision considered more serious than an incorrect rejection decision?
-
What should be the relationship between tolerable misstatement in the audit of an account balance and the amount of monetary misstatement considered material to the overall financial statements?
-
There is a function f of the form .12 f(x) = ax + x 13 for which f(0.1) = 6.06 10 and (0.9) = 0.03577. Determine a and B, and assess the sensitivity of these parameters to slight changes in the...
-
The order states: Give antihistamine elixir 2.5mg/kg/dose PO q4h. The patient weighs 143lbs. The drug is available as Antihistamine Elixir 200mg in every 8mL. Answer each of the following questions. ...
-
Solve 4x2 11x 200 by factoring.
Study smarter with the SolutionInn App