Question: The risk that an auditor will conclude, based on substantive tests, that a material misstatement does not???????????????????????????????????????????????????????????????????????????????????? ???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????? referred to as a. Sampling risk. b.

The risk that an auditor will conclude, based on substantive tests, that a material misstatement does not????????????????????????????????????????????????????????????????????????????????????

????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

referred to as

a. Sampling risk.

b. Detection risk.

c. Nonsampling risk.

d. Inherent risk.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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

Students Have Also Explored These Related Auditing And Accounting Cases Questions!

The risk that an auditor will conclude, based on substantive tests, that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is referred to as a....

The risk that an auditor will conclude, based on substantive tests, that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is referred to as:...

The risk that an auditor will conclude, based on audit tests, that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is referred to as a....

The risk that an auditor will conclude, based on substantive procedures, that a material misstatement does not exist in an account balance when, in fact, such misstatement does exist is referred to...

5. An interbank transfer schedule a. Is another name for the proof of cash b. Helps the auditor test for kiting c. Is on a standard bank confirmation d. Is used to examine entity bank reconciliations...

The following questions concern the audit risk model. Choose the best response. Question content area bottom Part 1 a . Some account balances, such as those for pensions and leases, are the result of...

638. Multiple Choice Questions Select the best answer for each of the following. Explain the reasons for your selection. a. In planning and performing an audit, auditors are concerned about risk...

Multiple Choice Questions Select the best answer for each of the following. Explain the reasons for your selection. a. In planning and performing an audit, auditors are concerned about risk factors...

The risk that an auditor will conclude, based on substantive tests, that a material error does not exist in an account balance when, in fact, such error does exist is referred to as 1 . sampling...

(1) Write out a formula that can he used to value any stock, regardless of its dividend pattern. (2) What is a constant growth stock? How are constant growth stocks valued? (3) What happens if a...

The domestic supply and demand curves for hula beans are as follows: Supply: P 50 Q Demand: P 200 2Q Where P is the price in cents per pound and Q is the quantity in millions of pounds. The U.S....

Mario, an Italian citizen and non - resident for US tax purposes, owns a condominlum in New York City. Although he bought it to have a place to stay when he visited New York, he has been renting it...

What do you think is your strongest component of cultural intelligence? Your weakest? How would you go about shoring up your weaknesses?