Question: a . LO 9 . 6 This year the audit plan, as compared to the prior year, includes a lower risk of assessing control risk

.

9.6

This year the audit plan, as compared to the prior year, includes a lower risk of assessing control risk too low. Other factors held constant, which of the following is most likely to be correct relating to the planned risk of incorrect acceptance for substantive procedures?

(1)

Lower than prior year.

(2)

Same as prior year.

(3)

Higher than prior year.

(4)

Indeterminate as there is no certain relationship between the acceptable levels of the risks.

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!

This year the audit plan, as compared to the prior year, includes a lower risk of assessing control risk too low. Other factors held constant, which of the following is most likely to be correct...

Can someone help me with this foot note questions it pertains to 1-800 Flowers 10-k. 2016 Annual Report DELIVERING SMILES, DRIVING GROWTH n iona v tion Always Innovating 1-800-FLOWERS.COM and its...

Test of controls are concerned primarily with each of the following questions, except By whom where the controls are applied Were the necessary controls consistently performed How were the controls...

Hi, I need help completing this comparison analysis. I need to turn this in by Sunday 8/6. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. Table_Of_Contents Form Type: 10-K Period End: Dec 31, 2013...

Requested: The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 233-240 in your text. Write, in outline format but in complete sentences, a 6 to 10 page...

The final paper will be based on Appendix 6C Illustrative Audit Case: Keystone Computers at pages 233-240 in your text. Write, in outline format but in complete sentences, a 6 to 10 page audit plan....

CAN YOU PLEASE HELP ME SOLVE THE QUESTION REFERENCING THE ANNUAL REPORT OF BILLABOG 2015 AND 2016. THANKS FEDERATION BUSINESS SCHOOL BUACC1508 ACCOUNTING AND FINANCE ASSESSMENT TASK 2: GROUP...

I need to update this report for years 2011-2015 ( delete 2010 and add 2015)and change the format so pro can't recognize it from last time. you can look up the info online and I can attach the...

It is March 2021, assume you can borrow at the risk-free rate at 0.1% p.a. continuously compounded, and the S&P/ASX 200 is trading at 6800 points, the dividend yield is 4% p.a. continuously...

Oriole Enterprises purchased equipment on March 15, 2021, for $67,890. The company also paid the following amounts: $530 for freight charges; $217 for insurance while the equipment was in transit;...

If the straight - line depreciation method is used, the annual average investment amount used in calculating rate of return is calculated as ( beginning book value ending book value ) ? 2 . True False

What are some food related health care issues that inner cities are more likely to see than more affluent areas? Why are certain areas most likely to experience inadequate healthy food options than...