When there is a significant risk that an account will be misstated and the client's system of internal controls is not considered effective at reducing that risk:
A) more high quality evidence is gathered when conducting substantive tests
B) detection risk is set as high
C) detection risk is set as low
D) none of the above
Correct Answer:
Verified
Q2: Analytical procedures involve an evaluation of financial
Q4: The cut-off assertion means that the entity
Q5: Internally generated evidence is considered the most
Q10: Correspondence with the client's lawyers is an
Q16: Audit evidence is the information that an
Q17: Observation is an evidence gathering procedure that
Q20: Negative confirmations ask the recipient to reply
Q21: An auditor verifies amounts recorded in their
Q31: Which assertion do auditors test when they
Q38: Completeness is an assertion used:
A) when testing
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