The acceptable level of detection risk is inversely related to the:
A)extent of the substantive procedures.
B)risk of misapplying auditing procedures.
C)overall materiality.
D)risk of failing to discover material misstatements.

Question

Quizplus · Accepted Answer

The acceptable level of detection risk is inversely related to the extent of the substantive procedures. This means that the lower the detection risk auditors are willing to accept, the greater the extent of substantive procedures they need to perform to reduce audit risk to an acceptably low level.

The Acceptable Level of Detection Risk Is Inversely Related to The