EP AUDITING+ASSURANCE...-MYACCT.LAB
16th Edition
ISBN: 9780134148656
Author: ARENS
Publisher: PEARSON CO
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Chapter 10, Problem 16RQ
To determine
Identify the verbal and nonverbal cues in the inquiries made by the auditors.
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Which of the following types of behavior is noted as the most common or frequent problems being observed by stakeholders?
A. Externalizing behavior
B. Internalizing behavior
C. Inattentive behavior
D. Impulsive behavior
Consider what you learned about nonverbal and verbal clues to deception. Can you think of a personal experience where these clues would have been helpful? Did you recognize the clues at the time? Would you recognize them in the future?
The risk of material misstatement is a combination of two client controlled factors: inherent risk and control risk. What is inherent risk, why is it important and give four examples of inherent risk factors.
Chapter 10 Solutions
EP AUDITING+ASSURANCE...-MYACCT.LAB
Ch. 10 - Prob. 1RQCh. 10 - Define misappropriation of assets and give two...Ch. 10 - Prob. 3RQCh. 10 - Prob. 4RQCh. 10 - Prob. 5RQCh. 10 - Prob. 6RQCh. 10 - Prob. 7RQCh. 10 - Prob. 8RQCh. 10 - Prob. 9RQCh. 10 - Prob. 10RQ
Ch. 10 - Prob. 11RQCh. 10 - Prob. 12RQCh. 10 - Prob. 13RQCh. 10 - Prob. 14RQCh. 10 - Prob. 15RQCh. 10 - Prob. 16RQCh. 10 - Prob. 17RQCh. 10 - Prob. 18RQCh. 10 - Prob. 19.1MCQCh. 10 - Prob. 19.2MCQCh. 10 - Prob. 19.3MCQCh. 10 - Prob. 20.1MCQCh. 10 - Prob. 20.2MCQCh. 10 - Prob. 20.3MCQCh. 10 - Prob. 21.1MCQCh. 10 - Prob. 21.2MCQCh. 10 - Prob. 21.3MCQCh. 10 - Prob. 22.1MCQCh. 10 - Prob. 22.2MCQCh. 10 - Prob. 22.3MCQCh. 10 - Prob. 23DQPCh. 10 - Prob. 24DQPCh. 10 - Prob. 25DQPCh. 10 - Prob. 27DQPCh. 10 - Prob. 28DQPCh. 10 - Prob. 29DQPCh. 10 - Prob. 31DQPCh. 10 - Each year near the balance sheet date, when the...Ch. 10 - Prob. 33DQPCh. 10 - Prob. 34DQP
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- 3.) Which of the following is considered emotional biases? A. Loss aversion, overconfidence, self-control B. Loss aversion, belief, self-control C. Loss aversion, overconfidence, perseverance 4.) Which of the following is considered cognitive errors? A. belief perseverance biases, information-processing biases B. belief perseverance biases, information-dissemination biases C.belief persistence biases, information-dissemination biasesarrow_forwardDistinguish between employee fraud and management fraud.arrow_forwardOutline the steps which can be taken to investigate occupational fraud.arrow_forward
- Give specific examples of fraud risk factors - incentives, opportunities, and attitudes/rationalization.arrow_forwardExplain the differences between Criminal Fraud versus Civil Fraud and provide an example of each type. Provide rationales and support for the examples in your response.arrow_forwardDiscuss the following characteristics of reliable evidence using your own examples Qualification of individuals providing the informationarrow_forward
- To which customer is the auditor least likely to send a receivables confirmation? O customer whose account is overdue O customer who owes a significant amount of money at year end O customer who is also a related company to the entity under audit O customer who owes very little at year endarrow_forwardDifferentiate between an “unqualified report” with an “adverse report”.arrow_forwardDescribe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision without evidence for support. For each of the situations described, explain how the use of evidence (or the lack of it) impacted the outcome of your decision making. Be specific in terms of positive and negative impacts.arrow_forward
- The text identifies a number of personal traits of managers and other employees that might help uncover fraudulent activity. Discuss three.arrow_forwardIdentify how each of the following statements relates to the performance principle by considering which element(s) of the principle are related to that statement. (A statement may be related to more than one element.) Use the following elements in providing your response: Reasonable assurance • Planning and supervision • Materiality ⚫ Risk assessment • Audit evidence a. Evaluating the effectiveness of the client's internal control in preventing or detecting misstatements. b. Obtaining an understanding of the client's business and industry. c. Acknowledging that the risk of failing to detect a material misstatement cannot be reduced to zero. d. Obtaining confirmations from the client's customers as to the ending balances in accounts receivable. e. Preparing a written audit plan. f. Designing audit procedures to identify misstatements that would have a significant effect on financial statement users' decisions. g. Considering the likelihood that the account balance contains a material…arrow_forwardAn item or information is said to be material if misstatement of which can influence the ___ a. Auditor's decision b. Audit committee's decision c. User's decision d. Management decisionarrow_forward
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