Possible Answers:

• Creates a reasonable possibility a material misstatement will not be detected
• Follow a transaction through the system
• GAAP
• GAAS
• Inquire, inspect, observe, reperform
• Inquiries, analytical procedures, observation
• Likelihood a misstatement will not be prevented or detected
• Likelihood auditor's procedures will not detect a material misstatement.
• Likelihood of misstatement assuming no controls
• Merits attention, less than a material weakness
• Relevant assertions
• Reporting on internal control and financial statements
• Reporting on internal control and service providers
• Risk tolerance of an average financial statement user
• Substantive procedures and tests of controls
• Tests of controls and planning
• User auditor

I cant seem to get the last one correct.

Week 4: Homework i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 1 1 Select each of the following terms with the appropriate attributes. No reply is used more than once. Answer is complete but not entirely correct. 9 points Term 1. Inherent risk 2. Attributes Likelihood of misstatement assuming no controls Merits attention, less than a material weakness Reporting on internal control and financial statements Creates a reasonable possibility a material misstatement will not be detected Creates a reasonable possibility a material misstatement will not be detected Significant deficiency Integrated audit Material weakness 3. 4. 5. Control risk