After the auditor determines detection risk, what is it used for?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (18 reviews)
Audit risk comprise of three major risks detection risk inheren...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing and Assurance Services Understanding the Integrated Audit
ISBN: 978-0471726340
1st edition
Authors: Karen L. Hooks
Question Posted:
Students also viewed these Auditing questions
-
MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements is true regarding the concept of materiality? a. Materiality is the magnitude of an omission or misstatement of accounting information...
-
Multiple Choice Questions The following questions deal with assessing control risk in a financial statement audit. Choose the best response. a. The auditor's tests of controls revealed that required...
-
MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements best describes what is meant by the term appropriateness of audit evidence? a. Appropriateness is a measure of the quality of audit...
-
Let B > 0. Show that the maximum of subject to the constraints x + this to conclude that f(x,...,xn) = X1 X2 Xn for all positive numbers a,..., an. . + xn = B and xj 0 for j = 1,. n occurs for x =...
-
A local telephone directory has 50,000 names, 100 per page for 500 pages. Explaining how you found and used random numbers, select 10 numbers to identify subjects for a simple random sample of 10...
-
Consider a hemisphere with a flat base in a hypersonic flow at \(0^{\circ}\) angle of attack (the hemispherical portion faces into the flow). Assuming that the base pressure is equal to free-stream...
-
What statistics are available for determining the strength of association in cross-tabulation?
-
The Global Products Corporation has three subsidiaries. a. Which division has the lowest return on sales? b. Which division has the highest return on assets? c. Compute the return on assets for the...
-
equation. Using the Laplace transform, solve the following initial-value differential -4y+13y = e+ sin(3t) with y(0) = 4 and y(0) = 3 Question 5. (5 points) Find the inverse Laplace transform of 4...
-
Leach Company borrowed $80,000 cash by issuing a note payable on June 1, Year 1. The note had an 8 percent annual rate of interest and a one-year term to maturity. Required a. What amount of interest...
-
Give examples of accounts and classes of transactions that have greater inherent risk for specific assertions. Why is their inherent risk greater?
-
What does it mean that the auditor must consider not only whether a material misstatement has already occurred from a control deficiency, but also whether a material misstatement could have occurred?
-
One year ago, you purchased a 5-year, $1,000 face value, 6 percent coupon bond for $1,012. Interest is paid semi-annually. Today, you sold the bond at a market rate of return of 6.27 percent. What is...
-
The graph in Figure 18.19 shows the height h of a projectile after \(t\) seconds. In Problems 5-8, find the average rate of change of height (in feet) with respect to the requested changes in time...
-
A manufacturer of auto accessories uses three basic parts, A, \(\mathrm{B}\), and \(\mathrm{C}\), in its three products, in the following proportions: The inventory shows 1,250 of part A, 900 of part...
-
Evaluate the limits in Problems 3-7. \(\lim _{n ightarrow \infty}(-1)^{n}\)
-
Evaluate the area function for the functions given in Problems 1-8. Let \(y=2 x\); find \(A(x)\).
-
Given the matrices in Problems 28-31, perform elementary row operations to obtain a zero (or zeros) above and below the 1 in the second column without changing the entries in the first column. [D] =...
-
In Problems 110, solve each system of equations using the method of substitution or the method of elimination. If the system has no solution, state that it is inconsistent. (2x - y = 5 5x + 2y = 8
-
A copper rod of length L =18.0 in is to be twisted by torques T (see figure) until the angle of rotation between the ends of the rod is 3.08. (a) If the allowable shear strain in the copper is 0.0006...
-
What are the short- term effects and the long- term effects of improperly capitalizing expenditures on the financial statements?
-
How can purchasing managers use their position to defraud the company? What can be done to prevent it?
-
How can purchasing managers use their position to defraud the company? What can be done to prevent it?
-
The price of a car you want is $39,000 today. Its price is expected to increase by $1000 each year. You now have $23,500 in an investment account, which is earning 11% per year. How many years will...
-
Marshall's concept of external economies and diseconomies refers to: a) Changes in output resulting from changes in input levels b) The effects of production on the environment c) The benefits or...
-
The DD-AA model predicts that a permanent increase in foreign money demand will lead to an improvement in the domestic current account. True/False/Uncertain, explain and support your answer with ONE...
Study smarter with the SolutionInn App