aterial misstatement exists when it does not exist the risk that an auditor incorrectly rejects a client the risk that management may reject the audit opinion issued by the auditor
aterial misstatement exists when it does not exist the risk that an auditor incorrectly rejects a client the risk that management may reject the audit opinion issued by the auditor
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
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 8CYBK
Related questions
Question
Risk of incorrect rejection is defined as _______.
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the risk that the auditor concludes that a material misstatement does not exist when it does exist |
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the risk that the auditor concludes that a material misstatement exists when it does not exist |
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the risk that an auditor incorrectly rejects a client |
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the risk that management may reject the audit opinion issued by the auditor |
- An advantage of statistical sampling _______.
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is that it allows an auditor to measure control risk |
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is that it allows an auditor to measure sampling risk |
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is that it allows an auditor to measure inherent risk |
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is that it is cheaper to perform, resulting in lower audit fees for the client |
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