1: The concept of materiality would be very important to an auditor in determining transactions that should be validated. S2: The level of assurance expected to be issued affects the amount of procedures to be performed by the practitioner. Group of answer choices Only S1 is correct. Both S1 and S2 are incorrect. Both S1 and S2 are correct. Only S2 is correct.
1: The concept of materiality would be very important to an auditor in determining transactions that should be validated. S2: The level of assurance expected to be issued affects the amount of procedures to be performed by the practitioner. Group of answer choices Only S1 is correct. Both S1 and S2 are incorrect. Both S1 and S2 are correct. Only S2 is correct.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter7: Planning The Audit: Identifying, Assessing, And Responding To The Risk Of Material Misstatement
Section: Chapter Questions
Problem 3RQSC
Related questions
Question
S1: The concept of materiality would be very important to an auditor in determining transactions that should be validated.
S2: The level of assurance expected to be issued affects the amount of procedures to be performed by the practitioner.
S2: The level of assurance expected to be issued affects the amount of procedures to be performed by the practitioner.
Group of answer choices
Only S1 is correct.
Both S1 and S2 are incorrect.
Both S1 and S2 are correct.
Only S2 is correct.
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