Which of the following is not a benefit claimed for the practice of determining materiality in the initial planning stage of an audit?
A) Being able to fine-tune the audit work for effectiveness and efficiency.
B) Avoiding the problem of doing more work than necessary (overauditing) .
C) Being able to decide early what type of audit opinion to issue.
D) Avoiding the problem of doing too little work (underauditing) .
Correct Answer:
Verified
Q92: Spreadsheet software would be most useful for
Q93: When auditing the existence assertion for an
Q94: A primary advantage of using CAATs in
Q95: With respect to the concept of materiality,which
Q96: An audit plan contains
A) Specifications of audit
Q98: Prior to accepting a new audit engagement,a
Q99: The revenue cycle of a company generally
Q100: When planning an audit,which of the following
Q101: Auditing standards do not require that documentation
Q102: Which of the following can CAATs not
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents