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Author Question: The acceptable risk of overreliance (Read 118 times)

heyheyhey

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on: Aug 21, 2022

Question 1

Place the following steps in their proper order:
1.Analyze exceptions.
2.Select the sample.
3.Define attributes and exception conditions.
4.State the objectives of the audit test.
5.Specify the tolerable exception rate.

◦ 1, 3, 2, 4, 5
◦ 4, 3, 1, 2, 5
◦ 4, 3, 5, 2, 1
◦ 1, 2, 3, 4, 5

Question 2

The acceptable risk of overreliance
◦ is the risk that the auditor will erroneously conclude that the controls are less effective than they actually are.
◦ is less of a concern to the auditors than the risk of underreliance.
◦ represents the auditor's measure of sampling risk.
◦ is determined by a statistical formula, and not by professional judgment.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by heyheyhey on Aug 21, 2022

iamkarenvv

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Reply #1 on: Aug 21, 2022
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.
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heyheyhey

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

jackie

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Reply 3 on: Yesterday
Excellent

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