What is an appropriate strategy when an audit area has a low acceptable risk?
A) Review the completed working papers more thoroughly.
B) Increase the amount of audit evidence gathered.
C) Assign more experienced staff to that area.
D) all of the above

Question

Quizplus · Accepted Answer

When an audit area has a low acceptable risk, it implies that the auditor needs to be more cautious and ensure the audit evidence is reliable and sufficient. Therefore, reviewing working papers more thoroughly, increasing the amount of audit evidence gathered, and assigning more experienced staff are all appropriate strategies to mitigate the risk and ensure a thorough audit.

What Is an Appropriate Strategy When an Audit Area Has