Question: using the audit risk model, identify the relationship between the following elements. for eaxh item below highlight whether the 2 elements have an inverse relationship,

using the audit risk model, identify the relationship between the following elements. for eaxh item below highlight whether the 2 elements have an inverse relationship, direct relationship, or no relationship. when considering each item assume the other components of the risk model remain constant.

ACCEPTABLE AUDIT RISK AND ASSESSED CONTROL RISK

AMOUNT OF SUBSTANTIVE EVIDENCE COLLECTED AND ACHIEVED DETECTION RISK

ACTUAL INEHRENT RISK AND ACTUAL CONTROL RISK

ACHIEVED DETECTION RISK AND ACHIEVED AUDIT RISK

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!

Using the audit risk model, identify the relationship between the following elements. For each of the items below, highlight whether the two elements have an inverse relationship, a direct...

1. Using the audit risk model, identify the relationship between the following elements. For each of the items below, highlight whether the two elements have an inverse relationship, a direct...

Using the audit risk model, identify the relationship between the following elements: Achieved Detection Risk and Achieved Audit Risk Direct Inverse Indirect No Relationship

Using the audit risk model, identify the relationship between the following elements: Amount of substantive evidence collected and Achieved Detection Risk Inverse Indirect Direct No Relationship

Jimmy thinks he finally understand how to use audit risk model. However, he you to identify the relationship between the following elements. For each of the below circle. Whether the two elements...

Penfolds Mining Group Ltd Audit Case Study Penfolds Mining Group Ltd Company Background The Entity Penfolds Mining Group Ltd, a company with its headquarters in Hobart, Tasmania, has been listed on...

Please help me I need answers of this. 1. Which of the following factors most likely would cause a CPA not to accept a new audit engagement? 1 point Management reputation for failing to provide...

A piece of laborsaving equipment has just come onto the market that Mitsui Electronics, Ltd., could use to reduce costs in one of its plants in Japan. Relevant data relating to the equipment follow...

What traits and behaviors would an ethical sales person possess and how might this help the sales person close deals? How can a sales manager reinforce ethical behavior?

State whether the following are cash or credit transactions : (a) Paid salary ~ 1,000. (b) Received from X ~ 2,600.

5. Develop a scenario comparing two PH programs and involving the use of a CBA.

C Does avoiding saying (or printing) the word give it more or less power?

A What meaning does the N-word carry for you? Does it seem appropriate to use it in a scholarly discussion? How do you feel about its being printed (or not printed) in this textbook?

What are your personal thoughts on sex, gender, and language? Do you think men and women speak different languages, or do you feel that we all speak more similarly than differently? How do your...