Author Question: Assume an audit client identified in the planning stage of the audit the risk of material ... (Read 61 times)

aeb093 · **on:** Aug 21, 2022

Question 1

Assessing acceptable audit risk, client business risk, and risk of material misstatement helps determine the audit procedures that will be needed.
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Question 2

Assume an audit client identified in the planning stage of the audit the risk of material misstatement for revenue recognition and accounts receivable due to complex valuation related issues; this situation warrants the auditor to accumulate additional audit evidence and to assign more experienced staff to perform the testing in this area.
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Burly · **Reply #1 on:** Aug 21, 2022

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