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Author Question: When determining tolerable exception rate (TER), (Read 61 times)

sh03641

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on: Aug 21, 2022

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.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by sh03641 on Aug 21, 2022

nikspatel037

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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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sh03641

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Reply 2 on: Aug 21, 2022
Gracias!

juliaf

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Reply 3 on: Yesterday
Excellent

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