Manny Regimbald is concerned about the audit of a high risk client, the Lewiston Stampeders. He believes that there is a high likelihood that because his audit team is inexperienced that the testing procedures will not detect a material misstatement. This is a(n)
A) audit risk.
B) control risk.
C) detection risk.
D) none of the above.
Correct Answer:
Verified
Q3: Audit sampling is the application of audit
Q5: Matilda Papas has been asked to lead
Q7: Normally,it is more efficient to carry out
Q10: Corroborative evidence confirms audit findings from other
Q11: Analytical procedures that provide persuasive or corroborative
Q12: Control risk is assessed to be low
Q13: The timing of substantive procedures is directly
Q14: Ying Ye believes that she will have
Q16: Key item testing is an example of
Q18: The audit program serves as the instructions
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