Question: How might the availability tendency contribute to poor choices in the sampling process? How might an auditor mitigate the effects of this tendency?

How might the availability tendency contribute to poor choices in the sampling process? How might an auditor mitigate the effects of this tendency?

Step by Step Solution

★★★★★

3.34 Rating (175 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The availability tendency is the tendency for decision makers to consider information that is easil... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

841-B-A-A-P (2189).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

Q:

How might the confirmation tendency contribute to less than optimal auditor judgment in the sampling process? How might an auditor mitigate the effects of this tendency?

Q:

(a) How might the confirmation tendency affect Brent's decision? (b) How might the availability tendency come into play in Brent's decision? (c) What could Brent do to mitigate the effects of the...

Q:

(a) How might the confirmation tendency affect your client acceptance decision? (b) How might the overconfidence tendency come into play in your client acceptance decision? (c) How might an auditor...

Q:

Your audit firm, Garrett and Schulzke LLP, is engaged to perform the annual audit of Hooplah, Inc., for the year ending December 31, 2017. Hooplah is a privately-held company that sells electronics...

Q:

Structure your organization's work to encourage wise choices. by John Beshears and Francesca Gino Leaders as Decision Architects ALL li"PLOYEES, from CEOs to frontline workers, commit preventab}e...

Q:

After reading the passage below. Please assist with how might these styles impact the choice of theoretical approach with a client. What are Attributional and Explanatory Styles? Over time the...

Q:

Case 1 Hamilton Corporation Overview Hamilton Corporation (the Company) is a multinational auto parts supplier headquartered in the Midwest. Hamilton began its operations as a wholly owned subsidiary...

Q:

Case 1 Hamilton Corporation Overview Hamilton Corporation (the Company) is a multinational auto parts supplier headquartered in the Midwest. Hamilton began its operations as a wholly owned subsidiary...

Q:

Case 1 Hamilton Corporation Overview Hamilton Corporation (the Company) is a multinational auto parts supplier headquartered in the Midwest. Hamilton began its operations as a wholly owned subsidiary...

Q:

Read the attached article: Bonnie 2002 Responsibility for Addiction Prompts: 1. Why are drugs "scheduled"? Do you think drugs should be "scheduled"? Do you think the penalties for using scheduled...

Q:

C. Arrange the following steps in their correct sequence bywriting 1-10 (1 being the first step) on the blank. Then, identify the stage (preparation, modeling, etc.)each statement describes. 1. After...

Q:

A steel ruler has a length of 30 cm at 20C. What is its length at 100C?

Q:

Modify the Rectangle class below and add a method that takes a circle as an argument and determines if it is inside the its boundaries: class Rectangle: def _ _ init _ _ ( self , corner, width,...

Q:

A lot of other wearables focus on counting steps or enabling apps. Is that what this group should design, so as to be seen as a legitimate competitor and not confuse customers, or should they design...

Q:

A CPAs client, Boos & Baumkirchner, Inc., is a medium-size manufacturer of products for the leisure-time activities market (camping equipment, scuba gear, bows and arrows, and so forth). During the...

Q:

One of the firm's audit partners, Alice Goodwin, just had lunch with a good friend, Sara Hitchcock, who is president of Granger Container Corporation. Granger Container Corp. is a fast-growing...

Q:

Following are 10 key internal controls in the payroll cycle for Gilman Stores, Inc. Key Controls 1. To input hours worked, payroll accounting personnel input the employee's Social Security number....

Q:

give the full formulas and calculastions and write an interpreatation comparison Thanks in Advance Let's take a look at these figures for two different companies, Apple and Macy's using figures from...

Q:

Find the Income statements and the Balance Sheet in the attached Document. Calculate the various ratios (Show your calculations): Liquidity Ratios (Current and Quick Ratios), Debt/Equity Ratio, Gross...

Q:

Suppose your company needs $20 million to build a new assembly line. Your target debt-equity ratio is .8. The flotation cost for new equity is 9 percent, but the flotation cost for debt is only 6...