What is the relationship between the risk assessment process and the collection of audit evidence?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
The auditor must assess risks to select the ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Auditing The Art and Science of Assurance Engagements
ISBN: 978-0133098235
12th Canadian edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser
Question Posted:
Students also viewed these Auditing questions
-
What is the relationship between business risk and audit risk?
-
What is the relationship between the audit of fixed assets accounts and the audit of repair and maintenance accounts? Explain how the auditor organizes the audit to take this relationship into...
-
How does the audit team determine the acceptable level of the risk of incorrect acceptance? What is the relationship between this risk and sample size?
-
Suppose that the following equations describe an economy: C = 170 + 0.60YD M s = 735; P = 1 T = 200 I = 100 - 4i Md = 0.75Y - 6i G = 350 a) what is the equation for equilibrium in the goods market?...
-
Cis-trans isomerism is also possible in molecules with rings. Draw the cis and trans isomers of 1,2-dimerhyl- cyclohexane.
-
The liabilities of Weist Co. are listed. Accounts Payable, $586,000 Accrued Expenses, $178,000 Bonds Payable (due in six years), $800,000 Income Taxes Payable, $132,000 Notes Payable: $78,000 is...
-
(Computation of Actual Return) James Paul Importers provides the following pension plan information. Fair value of pension plan assets, January 1, 2011 $2,300,000 Fair value of pension plan assets,...
-
Industrial Technologies, Inc. (ITI), produces two compression machines that are popular with manufacturers of plastics: no. 165 and no. 172. Machine no. 165 has an average selling price of $30,000,...
-
General Ledger Use the following information to prepare the GST Clearing ledger account in the T-account format for BFG Company Ltd in the month of June 2021: (a): Opening balance of $4,125 debit....
-
Estabrook Ltd., which has a December 31 year end, had the following shareholders equity account balances as at December 31, 2024: Common shares (1,060,000 shares issued and outstanding)...
-
Explain why the auditor needs to know how to conduct a risk assessment.
-
Describe the different types of assurance engagements that could be provided for a hospital.
-
At one time a major U.S. airline proposed that all airlines adopt a uniform fare schedule based on mileage. The proposal would eliminate the many different fares that were available at that time....
-
Letf(x) =?x. If the rate of change of f at x= c is twice its rate of change at x=1,then find the value of c?
-
1. What is DBMS and what is its utility? Explain RDBMS with examples. 2. What is a Database? 3. Mention the issues with traditional file-based systems that make DBMS a better choice 4. Explain a few...
-
Why is iteration important in creating use cases?
-
The cost curve for the city water supply is C(Q) = 16 + 1/4 Q2, where Q is the amount of water supplied and C(Q) is the cost of providing Q acre-feet of water. (An acre-foot is the amount of water...
-
In a replacement problem, will incremental net depreciation always be less than the gross depreciation on the new piece of equipment? (LG5)
-
What role does the CPA Canada Handbook have in the professional activities of public accountants in Canada?
-
What is the difference between the American and Canadian standard setting processes?
-
Access the CPA Canada's Audit Quality Blog at https://www .cpacanada.ca/en/connecting-and-news/blogs/audit-quality-blog . a. Explain the purpose of the Audit Quality Blog.
-
why should Undertake research to review reasons for previous profit or loss?
-
A pension fund's liabilities has a PV01 of $200 million. The plan has $100 billion of assets with a weighted average modified duration of 8. The highest duration bond that the plan can invest in has...
-
Metlock Limited has signed a lease agreement with Lantus Corp. to lease equipment with an expected lifespan of eight years, no estimated salvage value, and a cost to Lantus, the lessor of $170,000....
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App