Explain the importance of determining the appropriate audit procedure to perform. What is the risk if the

Question:

Explain the importance of determining the appropriate audit procedure to perform. What is the risk if the audit procedure is not appropriate for the assertion being tested? Does this step relate to sampling risk or nonsampling risk?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Auditing A Practical Approach with Data Analytics

ISBN: 978-1119401742

1st edition

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

See More Books

Question Posted: Jan 01, 2020 05:11 AM

See More Questions

Explain the importance of a time line.
Explain the importance of this theory?
Explain the importance of a business strategy.
A group of investors is considering buying the Wheelwright Corporation, but does not want to contribute to the companys financial support after the purchase. Wheelwrights management has offered the...
Tundra Engineering, whose stock price is now $32, needs to raise $40 million in common stock. Underwriters have informed the firm's management that they must price the new issue to the public at $31...
Why is it no longer considered necessary to determine the N-terminal amino acid of a protein as a separate step?
Panther Racing, LLC, is involved in competitive racing, including the development, maintenance, and operation of a racing team in the IndyCar series. Beginning in 2008, the National Guard annually...
Rondello Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials1 pound plastic at $7.00 per pound ...... $ 7.00 Direct labor1.5 hours at...
What are the key components of a relational database management system? Why are relational database management systems different from database models that preceded the relational model?
Suppose we test H0: p = .3 versus Ha: p .3 and that a random sample of n = 100 gives a sample proportion = .20. a. Test H0 versus Ha at the .01 level of significance by using a critical value. What...
Explain the advantages and disadvantages of using probability-proportionate-to-size sampling when testing the existence of accounts receivable.
What influences the auditors assessment of expected misstatement in the population?
Anika Book Distributors, Inc., reported net income of $415,000 for 2009. The company also reported depreciation expense of $75,000 and a gain of $6,250 on the sale of machinery. The comparative...
Answer the following questions using the table you have just completed. Year Quantity of bananas Price of bananas ($) Quantity of sunscreen Price of sunscreen ($) Nominal GDP Real GDP GDP deflator...
1. Examine a state or federal policy and write a policy 'brief'. 2. Also include a one-page summary of how DNP-prepared nurses could influence the policy in your brief. 3. Provide the Policy or Bill...
" Are there trends developing that simply look for the most efficient and least cost market structure for healthcare or is there a developing trend to induce lifestyle changes that result in better...
(1) Staring with the canonical commutation relations for position and momentum [p] = thd [] = 0 and [..] = 0, work out the following: D [L,9] = -ihx [Lz Py] =-ihpx (2) Use these result to obtain...
write down the difference between Law and ethics ?
What problems may occur if a company's inventory turnover ratio is too high or too low?
What kind of rays are X-rays?
In your own words, explain several reasons why a marketing manager should co n sider international markets when evaluating possible opportunities.
Give an example of a foreign-made product (other than an automobile) that you pe r sonally have purchased. Give some reasons why you purchased that product. Do you think that there was a good...
ko, Inc.s managers are comparing the profitability of a target marketing strategy with a mass marketing strategy. The spreadsheet gives information about both approaches. The mass marketing strategy...
The answer of the fiurth line is not 4, 8, 32 or 40. I just need the answer for the fourth line Question 1 Memory Allocation SUBMITTED How much memory (in bytes) is taken up by the following...
Critical Thinking 10-7: Dynamic Mobile Access There are so many opportunities now for people to allow constant and dynamic connection between their mobile phone and an external (often unregulated)...
In Matlab, create a code that puts the value three-halves pi radians, 3 ????, in a variable named "angle". Then set another variable named angleDegrees equal to a calculation that converts the value...

Explain the importance of determining the appropriate audit procedure to perform. What is the risk if the

Question:

Step by Step Answer:

At the outset it is important to make sure the evid...View the full answer

Auditing A Practical Approach with Data Analytics

Students also viewed these Business questions