Question 22 (1 point)

When analyzing a client's industry for potential risks, which of the following is the auditor least likely to consider?

Question 22 options:

	Bargaining power of customers
	Barriers to entry
	Client share of the market
	Strength of competitors

Question 23 (1 point)

In order to detect material misstatements, which of the following is the auditor least likely to adjust?

Question 23 options:

	Application of audit procedures
	Extent of audit procedures
	Nature of audit procedures
	Timing of audit procedures

Question 24 (1 point)

How long must audit working papers be retained for audits of public companies?

Question 24 options:

	3 years
	5 years
	7 years
	10 years

Question 25 (1 point)

A function of audit documentation is that it assists auditors in various ways. Which of the following applications of the assist function is incorrect?

Question 25 options:

	Assists peer review individuals
	Assists quality control reviewers
	Assists successor auditors
	Assists various audit committee and board members