Question: An auditor may decide to decrease the desired level of confidence when Multiple Choice The planned evidence required from a particular test of detail is

An auditor may decide to decrease the desired level of confidence when

Multiple Choice

The planned evidence required from a particular test of detail is reduced because of the strength of evidence provided by an improved substantive analytical procedure.

Increased reliability based on the sample is desired.

The cost and effort of selecting additional sample items are low.

Many differences

(

audit value minus recorded value

)

are expected.

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!

Below are incomplete financial statements for Benson, Incorporated. Required: Calculate the missing amounts. BENSON, INCORPORATED Income Statement Year ended December 31, 2024 $ Revenues Expenses:...

1.As used in PSA 560, the term "subsequent events" refers to a.Events occurring the date of the financial statement. b.Events occurring after the date of the auditor's report c.Events occurring...

INTRODUCTION Your audit firm, Garrett and Schulzke LLP, is engaged to perform the annual audit of Hooplah, Inc., for the year ending December 31, 2014. Hooplah is a privately-held company that sells...

Hi guys, I am trying to properly answer an accounting question concerning shares, bonds, and stock. I was given two annual reports, and am asked to make a decision on one of the companies depending...

Hi there! One more question for you. Similar to my last one. I have to have it done by tonight. Let me know if you cannot do it. Here it is: Scenario 3 May I Propose To... You are a partner in a...

You are a partner in a prestigious accounting firm, and you just received requests for proposal from two companies; Advanced Micro Devices, and Facebook. The deadline for the proposals is, as is...

International Journal of Business and Management Invention ISSN (Online): 2319 - 8028, ISSN (Print): 2319 - 801X www.ijbmi.org || Volume 6 Issue 3 || March. 2017 || PP51-59 Effect of Auditor...

AUDITING THEORIES Part I. Multiple Choice 1) Arrange the following evidential items from the most to the least reliable in the audit of cash: (A) Bank reconciliation prepared by the bookkeeper, (B)...

Sarah is a 25% partner is Fear the Deer Partnership. She provides daily bookkeeping services. She receives a guaranteed payment for this service in the amount of $3,000 per month. In addition, the...

Can a Medical Coder/Biller student who studing in the field set their sights too high in the beginning of the thier career? What is the reality in entering into a new career as a Medical Coder and...

A system to control the efficiency of a benefit program is called what? a . A benefit audit. b . A benefit system. c . A retention program. d . CPP e . PSPP

Determine the major differences between U.S. GAAP and IFRS disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether either U.S....