Define what is meant by inherent risk. Identify four factors that are associated with higher inherent risk
Question:
Define what is meant by inherent risk. Identify four factors that are associated with higher inherent risk in audits.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Inherent risk is a measure of the auditors assessment ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Auditing And Assurance Services An Integrated Approach
ISBN: 9780135176146
17th Edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
Question Posted:
Students also viewed these Business questions
-
Define what is meant by inherent risk. Identify four factors that make for high inherent risk in audits.
-
Define what is meant by an amodal shipper and discuss the factors that have contributed to its growth.
-
Define what is meant by market economy and identify its three required features.
-
Hehtoc-yrityksen tuloslaskelma on esitetty alla. Yrityksen valmistuskapasiteetti on 120.000 kpl vuodessa. Myyntituotot 80.000 kpl 20 Myytyjen tuotteiden kustannukset Vlittmt aineet Vlitn ty...
-
Times to finish a sixteen ounce bottle of mayonnaise, were recorded by a sample of 11 purchasers. It is determined that xi = 645.7 days and (xi - )2 = 198.41. (a) Obtain a point estimate of the...
-
The formation constant for Cu(EDTA) 2+ is 6.3 10 18 , and E is +0.339 V for the reaction From this information, find E for the reaction Cu+ + 2e Cu(s).
-
Discuss the employment-at-will doctrine.
-
Marilyn Thomas purchased an installed pool heater from Sunkissed. The pool heater was delivered to Marilyn's residence, but the delivery slip was signed by Nancy Thomas. Marilyn did not know of...
-
Blue Industries purchased a machine from Calico Corporation on October 1, 2016. In payment for the $144,000 purchase, Blue issued a one-year installment note to be paid in equal monthly payments at...
-
The Tesla 6 is a new custom- designed sports car. An analysis of the task of building the Tesla 6 reveals the following list of relevant activities, their immediate predecessors, and their duration:...
-
This problem requires the use of ACL software, which can be accessed through the textbook website. Information about downloading and using ACL and the commands used in this problem can also be found...
-
The following questions concern auditor responsibilities related to the assessment of risks of material misstatement. Choose the best response. a. Which of the following procedures would a CPA most...
-
Identify the correct statement below regarding the domestic production activities deduction (DPAD). a. Qualified production activities income (QPAI) is calculated by applying a percentage to net...
-
What are two circumstances when the cost method is used for strategic investments?
-
A random variable has P (X = x) = x/15 for x = 1, 2, 3, 4, 5, and 0 otherwise. Find the mean and variance of X.
-
Madayag Development Corporation (MDC) is a real estate development company that is 60% owned by Thomas Madayag. Seatons Inc., a privately owned Canadian department store chain, owns 30%, and 10% is...
-
Explain the difference between user objectives and preparer objectives.
-
What are emotions, and how do we experience them?
-
The general ledger of Beauchamp Supply includes the following accounts: Cash .................................................... 111 Accounts Receivable ........................ 112 Notes Receivable...
-
Describe basic managerial approaches to implementing controls and how these are implemented.
-
The SEC Enforcement Division investigates possible violations of securities laws, recommends SEC action when appropriate, either in a federal court or before an administrative law judge, and...
-
State the objective of the audit of financial statements. In general terms, how do auditors meet that objective?
-
Distinguish between management's and the auditor's responsibility for the financial statements being audited.
-
Please discuss echo of this topic with hundred words at list pleas. Its UNIX and Linux operating systems Discuss on (Unix File System and Directory Navigation) Discuss on (Importance of the shell...
-
How do Windows and Unix systems save settings?
-
Two charges, QA=-6.10 C and QB-4.15 C are placed a distance d=1.50 cm from each other. What is the electric potential energy of this system of charges? Provide your answer in joules with 2 decimal...
Study smarter with the SolutionInn App