Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Question
Chapter 5, Problem 5MCQ
To determine
Identify which of the given choices defines the time period, the level of materiality, and the expected time for an audit.
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After obtaining a sufficient understanding of internal control, the auditor:
a. Determines the preliminary assessment of control risk
b. Determine the assessed levels of detection risk and inherent risk
c. Assess detection risk to determine the acceptable level of inherent risk
d. Assess the need to apply GAAS
What are the components of Audit Risk? Use the Audit risk equation and briefly explain the components of audit risk.
What exactly is included inside an audit plan?
Chapter 5 Solutions
Data Analytics For Accounting
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