Which of the following is NOT a consideration when the auditor is attempting to assess the inherent risk?
A) results of previous audits
B) existence of related parties
C) nature of client's business
D) frequency and intensity of top management's review of the accounting transactions and records
Correct Answer:
Verified
Q44: A major limitation in the application of
Q45: When management has an adequate level of
Q46: Inherent risk is reduced where the likelihood
Q47: Auditors respond to risk by:
A) changing the
Q48: Acceptable audit risk is ordinarily set by
Q50: The auditor assesses control risk and inherent
Q51: Which statement regarding inherent risk is correct?
A)
Q52: Which one of the following discoveries by
Q53: What is a potential risk of under-auditing?
A)
Q54: The amount of evidence required will be
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