Question: 13.The Audit Risk is a function of _______. a. inherent risk and detection risk. b. inherent risk and control risk. c. control risk and detection

13.The Audit Risk is a function of _______.

a. inherent risk and detection risk.

b. inherent risk and control risk.

c. control risk and detection risk.

d.risk of material misstatement and detection 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 Accounting Questions!

Q:

Bob and Serena are married and file a joint income tax return. For 2017, their modified AGI is $70,000. Their daughter, Dawn, is in her third year at State University. They paid $4,300 for Dawn's...

Q:

13.The Audit Risk is a function of _______. a. inherent risk and detection risk. b. inherent risk and control risk. c. control risk and detection risk. d.risk of material misstatement and detection...

Q:

13.The Audit Risk is a function of _______. a. inherent risk and detection risk. b. inherent risk and control risk. c. control risk and detection risk. d.risk of material misstatement and detection...

Q:

13.The Audit Risk is a function of _______. a. inherent risk and detection risk. b. inherent risk and control risk. c. control risk and detection risk. d.risk of material misstatement and detection...

Q:

13.The Audit Risk is a function of _______. a. inherent risk and detection risk. b. inherent risk and control risk. c. control risk and detection risk. d.risk of material misstatement and detection...

Q:

1 Marks: 1 Auditors should design the written audit plan so that Choose one answer. a. Substantive tests prior to the balance sheet date will be minimized.The audit procedures selected will achieve...

Q:

Question B3 Part1 For the following independent situations, assume you are the auditor in-charge of the audit engagement: (1) (2) (3) (4) During the course of audit examination on ABC Limited, you...

Q:

During planning, the auditor determines that a client's inherent risk is high and the extent of internal controls is limited. How will the auditor continue with the risk assessment? Assess audit risk...

Q:

State wheState whether each of the following statements is true or false concerning audit risk and its components inherent risk, control risk and detection risk. Prompts Answers Question 1 3 1...

Q:

Niagara Dairy is a boutique cheese maker based in the Niagara region of Ontario. Over the years, the business has grown by supplying local retailers and, eventually, by exporting cheese products. In...

Q:

A) Multiple-Choice Questions? the oentsgion or missatement of infoemation, thea that infoutmatiod is, by defirition of FASB Staternent No. 2. a. thaterial. b. insignificant. c. Stgmificant. d....

Q:

Write a paper about Ethnography: Culture Inventory

Q:

Calculate the total profit (Output - Input) and productivity (Output/Input) for the example below. Which multiple choice answer best describes what is happening between quarter 1 and quarter 2? First...

Q:

The relative growth rate of a certain bacteria colony is 2 1 % per hour. Suppose there are 1 5 bacteria initially. Use the exponential growth model P ( t ) = P 0 ekt to answer the following a . find...

Q:

Why identifying customer benefits is so crucial while creating the messages? promotion/adverting in marketing

Q:

What future would you like to predict and what independent variables do you think might be helpful in creating a regression model that accurately predicts the future?

Q:

Use an organization that is popular in US and review the mission statement of a community sport organization and report back to us: The name of organization What the mission statement says (in your...

Q:

For each of the circuits shown in Figure 2, find the labeled node voltages (V1 to V5). The NMOS transistors have V, = 1V and k',W/L = 5 mA/V. %3D +5V +5 V +2.5 V 1 kf 1 kN 1 kN -2.5 V (a) (b) Figure 2

Q:

As a manager, how would you balance the need for a work adjustment for an employee with a disability with your need to design jobs that meet organizational performance goals? What issues would you...

Q:

A pointer holds a memory address.

Q:

1. The purpose of this chapter is to describe the key principles, procedures and strategies of personal communication benchmarking, as understood in this context.

Q:

1. Set a personal goal for yourself in your work situation. Examine this goal in the light of the 10 factors to achieve goals.

Q:

4. Set up at least one work role that is important for you to master. Reflect on how you can use your time more efficiently, not necessarily spend more time, to perform better in this work role.