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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 10CYBK
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A measure of the auditor's assessment
of the likelihood that there are material
misstatements in an account before
considering the effectiveness of the
client's internal control is called: *
Inherent risk
O Control risk
Statistical risk
O Acceptable audit risk
Transcribed Image Text:A measure of the auditor's assessment of the likelihood that there are material misstatements in an account before considering the effectiveness of the client's internal control is called: * Inherent risk O Control risk Statistical risk O Acceptable audit risk
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