This topic contains a solution. Click here to go to the answer

Author Question: When determining tolerable exception rate (TER), (Read 53 times)

sh03641

  • Full Member
  • ***
  • Posts: 144

Question 1

When choosing the appropriate acceptable risk of overreliance, the auditor needs to
◦ rely on his/her professional judgment.
◦ err on the side of conservatism.
◦ consult the professional standards.
◦ follow SEC guidelines.

Question 2

When determining tolerable exception rate (TER),
◦ the auditor considers the degree of reliance to be placed on the control and the significance of the control to the audit.
◦ if only one internal control is used to support a low control risk assessment for an objective, TER will be higher for the attribute than if multiple controls are used to support a low control risk assessment for the same objective.
◦ control deviations increase both the risk of material misstatements in the accounting record, and will always result in misstatements.
◦ a smaller sample size is needed for a low TER than for a high TER.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by sh03641 on Aug 21, 2022

nikspatel037

  • Full Member
  • ***
  • Posts: 173
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly




sh03641

  • Member
  • Posts: 144
Reply 2 on: Aug 21, 2022
Gracias!


coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

For a complete list of videos, visit our video library