Question: solve it Q2. Following are 3 situations that involve the nudit risk model ns it is used for planning audir evidence (sample) requirements in the
Q2. Following are 3 situations that involve the nudit risk model ns it is used for planning audir evidence (sample) requirements in the nudit of the following cyeles. Required: 1. Fill in the blanks for planned detection risk ( A% to C%, rounded to one decimal) and nudit evidence (D to F ) using the audit risk model. Further, for D to F, please state it either has a high, medium, or low level of audit evidence gathering which means the following: 63 pts =18 pts. a. High audit evidence for substantial testing - if PDR is smaller than 7%. b. Medium audit evidence for substantial testing - if PDR is greater than 7% but less than 8%. c. Low audit evidence for substantial testing - if PDR is greater than 8%. 2. For the sales cycle, discuss the 3-way match of documents needed to test the sale-specific audit procedure. What type of audit evidence/assertion is this audit procedure? 6 pts. Q2. Following are 3 situations that involve the nudit risk model ns it is used for planning audir evidence (sample) requirements in the nudit of the following cyeles. Required: 1. Fill in the blanks for planned detection risk ( A% to C%, rounded to one decimal) and nudit evidence (D to F ) using the audit risk model. Further, for D to F, please state it either has a high, medium, or low level of audit evidence gathering which means the following: 63 pts =18 pts. a. High audit evidence for substantial testing - if PDR is smaller than 7%. b. Medium audit evidence for substantial testing - if PDR is greater than 7% but less than 8%. c. Low audit evidence for substantial testing - if PDR is greater than 8%. 2. For the sales cycle, discuss the 3-way match of documents needed to test the sale-specific audit procedure. What type of audit evidence/assertion is this audit procedure? 6 pts
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