Which of the following is not true concerning materiality?a. Materiality is a matter of professional judgementO b. Materiality is used as a guide to planning substantive proceduresO c. Materiality is used a guide for making decisions about the audit reportd. All of the Above are True Statementse. None of the Above are True Statements

e. None of the Above are True Statements.Explanation:All of the statements provided are true…

Answered: Which of the following is not true…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter6: Audit Evidence

Section: Chapter Questions

Problem 12CYBK

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Similar questions

Which of the following statements is true? Select one: a. If evidence is subjective, it cannot be reliable b. Evidence must be relevant to all of the audit objectives c. Evidence obtained directly by the auditor may not be reliable if the auditor lacks the qualifications to evaluate the evidence. d. The persuasiveness of evidence can be evaluated after considering its sufficiency
Which of the following does NOT describe sufficient appropriate audit evidence? O appropriateness relates to the quality of evidence O the quality of evidence affects the quantity required O sufficiency relates to the quantity of evidence O the sufficiency of evidence is a matter of professional scepticism
Which of the following is correct about audit opinion? a. It does not assure the future viability of the entity b. It does not assure about the audit procedures c. It does assure the future viability of the entity d. It does assure the efficiency of the management
Which of the following characteristics is not considered essential to good audit evidence? a. Excessive audit evidence b. Sufficiency of evidence c. Relevance of evidence d. Reliability of evidence
Auditor observations are not considered as audit evidence A. True B. False
which of the following is correct about the appropriateness of evidence? A. Audit evidence from external sources is more relevant than evidence generated internallyB. Audit evidence is more persuasive when items of evidence from different sources or of different nature are not consistentC. Audit evidence generated internally is more reliable when the related accounting and internal control systems are effectiveD. Sufficiency refers to the amount of evidence needed
Which of the following does not relate to audit quality? A. Independence B. Due diligence C. Audit fees D. Audit competence
Which of the following is not correct about professional judgment? a.Professional judgement is essential to the proper conduct of an audit b.Professional judgement is exercised throughout the audit c.Professional judgement is appropriately documented d.Professional judgement is used as justification for decisions
Which of the following statements is incorrect regarding the reliability of audit evidence? a. While internal audit evidence is considered to be acceptable, the auditor usually prefers audit evidence form external sources. b. Oral representation by the client management is not a valid evidence. c. The effectiveness of accounting and internal control adds to the reliability of internal evidence. d. Audit evidence obtained directly by the auditor is more reliable than that one provided by the client.
The objective of the auditor is to plan the audit so that it will be performed in an effective manner. The effectiveness of audit deals with a. It deals with both error free audit opinion and profitable audit O b. Profitable audit c. None of the options d. Error free audit opinion
Which of the following is not a function or benefit of a checklist? Providing evidence of audit planning Reducing workload for the auditee Reducing risk of auditor bias Maintaining the audit pace and continuity
The need for the auditor to perform other audit procedures may arise when: 1. Management is unable to provide an explanation. 2 and 3 only 1 and 2 only 1 and 3 only 1, 2 and 3 only 2. The explanation and the audit evidences obtained relevant to managemen sidered adequate. 3. Comparability of the information available.

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